Lawmakers remove ‘revenge’ tax provision from Trump’s big bill after Treasury Department request
Washington (AP) -Kongre Republicans agreed to call the revenge tax provision President Donald Trump’s big bill After the request of Treasury Secretary Scott Bessent’s request.
. Chapter 899 This would allow the federal government to bring taxes to investors from countries thought to have collected “unfair foreign taxes ına to companies and US companies.
The measure was expected to refrain from investing in the US, except for the concern they might encounter with steep taxes. However, the abolition of the provision adds a wrinkle to the remedy plans of the Republicans. Cost of the big package.
In an X mission, BESSENT said that after the economic cooperation and development organization has reached an agreement with other countries for a global tax agreement, he said that he made a request to MPs. “Monthly productive dialogue”, then said that they would announce a common understanding between the G7 countries defending American interests ”.
Jason Smith, President of the Senate Finance Committee President Mike Crapo, R-Idaho and House Ways and Means Committee, R-MO. However, “Congress Republicans, if the other parties move away from this agreement or walk slowly, they are ready to take action immediately.”
The abolition of the provision, “will provide more certainty and stability for the global economy and increase the growth and investment beyond the United States and beyond,” he said.
An analysis by Global Business AllianceA trade group representing international companies such as Toyota and Nestlé estimates that the provision will cost the US 360,000 jobs in the lost gross domestic product and for more than 10 years of $ 55 billion per year.
Global Business Alliance, Senate majority leader John Thune, was among the few groups that appeal to RS.D., and the Crapo warning about the results of episode 899.
Republicans are hurry to finish the package this week. Four July Date of the President’s Four For passage.
In the early hours of Thursday, the Senate Parliamentary Medicaid provider tax revision In the center of the expenditure law, it does not comply with the procedural rules of the room by offering an important blow to the Republicans who trust the elders. Medicaid and other programs cuts To balance trillions of dollars Trump Tax Tests.
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