Revenge Tax Removed from Major Trump Bill Amid Trade Deal Negotiations
TL;DR Summary
Treasury Secretary Scott Bessent has requested the removal of the controversial 'revenge tax' provision, known as Section 899, from the 'big, beautiful bill' after reaching a deal with G7 countries on global corporate taxes, aiming to prevent it from hindering foreign investment in the U.S.
Topics:nation#global-corporate-taxes#politics#revenge-tax#section-899#tax-legislation#us-investments
- "Revenge tax" being yanked from "big beautiful bill," Bessent says Axios
- Treasury Deal Kills ‘Revenge Tax’ That Spooked Wall Street Bloomberg
- Bessent calls on Congress to scrap ‘revenge tax’ from Trump bill after G7 strikes deal The Hill
- Republicans dangle reprieve from tax retaliation as Trump bill heads toward votes Reuters
- Top Trump adviser floats stripping 'revenge tax' from GOP megabill if more trade deals are signed Quartz
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
3 min
vs 4 min read
Condensed
93%
675 → 45 words
Want the full story? Read the original article
Read on Axios