tldrdailynews.com logo

Revenge Tax Removed from Major Trump Bill Amid Trade Deal Negotiations

1 min read
Source: Axios
Revenge Tax Removed from Major Trump Bill Amid Trade Deal Negotiations
Photo: Axios
TL;DR

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:nationpolitics#global-corporate-taxes#politics#revenge-tax#section-899#tax-legislation#us-investments
Share this article
  1. "Revenge tax" being yanked from "big beautiful bill," Bessent says  Axios
  2. Treasury Deal Kills ‘Revenge Tax’ That Spooked Wall Street  Bloomberg
  3. Bessent calls on Congress to scrap ‘revenge tax’ from Trump bill after G7 strikes deal  The Hill
  4. Republicans dangle reprieve from tax retaliation as Trump bill heads toward votes  Reuters
  5. Top Trump adviser floats stripping 'revenge tax' from GOP megabill if more trade deals are signed  Quartz

Want the full story? Read the original reporting

Read on Axios