Lawmakers remove ‘revenge' tax provision from Trump's big bill after Treasury Department request
WASHINGTON — Congressional Republicans agreed to remove the so-called revenge tax provision from President Donald Trump's big bill on Thursday after a request by Treasury Secretary Scott Bessent.
The Section 899 provision that was nixed would have allowed the federal government to impose taxes on companies with foreign owners, as well as investors from countries judged as charging 'unfair foreign taxes' on U.S. companies.
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Beyond BCE: 2 Stocks With Massive (but Safe) Dividends
Written by Joey Frenette at The Motley Fool Canada If you're one of many investors who are ready to move on from former dividend darling BCE (TSX:BCE) after its dividend reduction, it's time to go on the hunt for names in the high-yield universe. While I do think that BCE will, in due time, find its footing again and perhaps increase its payout at an above-average rate over time, I do think that there are other names out there with more attractive yields and dividend growth profiles. And perhaps most notably, a lower degree of volatility amid all the market unknowns. With geopolitical tensions rising considerably over the past week and the consumer-spending-eroding impact of Donald Trump's tariffs, it's a good time to be a bit on the cautious side as you look for your next source of big passive income. In this piece, we'll concentrate on a few high-yielders that I believe have payouts which are safer than their size suggests. So, as we officially close off the first half of the year, consider the following two names if you're in the market for a cheap dividend that's on pretty stable footing. No surprises here. Telus (TSX:T) is BCE's peer, and it now has the larger dividend yield, currently hovering just north of 7.5%. That's a towering yield, and while Telus has faced the same macro and industry headwinds as its top rival, the firm has been able to keep on growing its payout despite the pressures. The lack of a media segment has been a major plus. And while Telus stock could stay stuck in a bear market for the next year or two, I must say that the commitment to keeping the dividend intact deserves the respect of income investors. At 20.2 times trailing price-to-earnings (P/E), shares of the $33 billion telecom titan look more or less fairly valued. For the most part, you'll be getting in for the secure payout and its predictable dividend growth trajectory. While I'm no fan of hunting down dividend stocks yielding north of 7%, I do find that Telus is a name that stands out as a deep-value option that will literally pay massive dividends, likely for years (even decades) to come. Up next, we have SmartCentres REIT (TSX: which has a safe 7.3% distribution yield at the time of this writing. And while the past several years have been a drag, with the stock now down 12% in the past 10 years, I find the payout and forward-looking growth trajectory to be enough reason to buy the stock as shares look to regain some ground going into the second half of 2025. When it comes to REITs, it's not just about rate-cut hopes. SmartCentres is a retail REIT that's developing some pretty promising projects across Ontario over the coming years. And it's not just about retail properties, either. As I've described in previous pieces, Smart is serious about diversifying into mixed-use properties with its new developments. With an underrated project pipeline and a distribution that could be subject to growth, I'm inclined to label Smart as another 7%-yielder worth buying if you're looking for safe passive income. The post Beyond BCE: 2 Stocks With Massive (but Safe) Dividends appeared first on The Motley Fool Canada. Before you buy stock in BCE, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and BCE wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $24,927.94!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 30 percentage points since 2013*. See the Top Stocks * Returns as of 6/23/25 More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Joey Frenette has positions in SmartCentres Real Estate Investment Trust. The Motley Fool recommends SmartCentres Real Estate Investment Trust and TELUS. The Motley Fool has a disclosure policy. 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBS News
20 minutes ago
- CBS News
Bay Area sees Asian grocery market boom as big-box stores close
The Bay Area is in the midst of an Asian grocery market boom as big-box stores close. Tony Yoo has opened highly acclaimed restaurants in Korea, earning a Michelin star along the way. "I'm making Korean barbecue dishes. These are two different kinds," Yoo said. He's now the executive chef at Pogu, a restaurant inside the mega food complex called Jagalchi, at the Serramonte Center in Daly City. The massive grocery, bakery, bar, food court, and restaurant fills what was once an empty 75,000 square foot space, long ago occupied by JCPenney. "Three months in now, we're in a more stabilized, steady phase. We're seeing consistent month-over-month growth," said Jagalchi marketing manager Ashley Jung. Camilla Rahman had been wanting to try it since it opened earlier this year. "This is just a really nice use of this space. I think that as retail has changed and the Bay Area's population has changed as well, this is a good use," Rahman said. At least seven large Asian chain groceries, including Tokyo Central in Emeryville and Mega Mart in the South and East Bay, are slated to open this year. San Francisco State Asian American Studies professor Russell Jeung said the market boom in Asian grocery stores is a reflection of shifting consumer demands and a demographic uptick in the region. Census numbers show Asians in the Bay increased from one in four in 2010 to one in three by 2020. "The increase in immigration from China and especially India and those coming especially for the high-tech industry, makes up a large segment of that population growth," Jeung said. Jeung said that growth, employment in biotech, AI, and other high-earning sectors of the economy are partly fueling the demand and replacing what were once smaller mom-and-pop Asian groceries. "That Asian American community has high enough incomes where they want more high-end Asian groceries. So they're not mom and pop grocery stores coming in, but they're actually corporate," Jeung said. It's a new environment for Yoo, working in a state-of-the-art kitchen, in the middle of a mall, to introduce his modern take on Korean cuisine. "Welcome to authentic Korean flavors, welcome to Pogu," Yoo said. It's his new home in a vastly changing retail space in the Bay. Jagalchi in Daly City is the first location in the U.S. Company officials say there are plans to expand to other cities. The new T&T grocery will open in San Francisco at City Center on Geary and Masonic. Its San Jose store is scheduled to open at Westgate Center this fall.
CNN
21 minutes ago
- CNN
Courtney B. Vance on book bans, protests in Los Angeles, and narrating the audiobook of the biography of W.E.B. Du Bois
Laura sits down with award-winning actor Courtney B. Vance to talk about his latest role narrating the new audiobook of "W.E.B. Du Bois: Biography of a Race". Vance also discusses the rise of book bans and the deployment of the National Guard to Los Angeles.
