Congress Cleans Up Biden's Global-Tax Mess
You'll have read over the past couple weeks that the House version of the One Big Beautiful Bill Act—the budget behemoth bouncing around Capitol Hill—includes a retaliatory tax on nationals of some foreign countries. The provision, known as Section 899, creates a punitive surtax (starting at 5%, eventually hitting 20%) on companies and individuals hailing from countries that have imposed 'unfair foreign taxes' on U.S. companies. Cue a noisy, and silly, freak-out.
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