Scott Bessent: 'Are you 'beneficiary' of BBB?': Horsford grills Scott Bessent over Big Beautiful Bill - The Economic Times Video
U.S. Treasury Secretary Scott Bessent said that the Republican tax and spending bill under consideration will prevent hundreds of billions of dollars of corporate tax payments from going to foreign governments. Bessent told a U.S. House of Representatives Ways and Means Committee hearing that the Biden administration "chose to outsource American sovereignty on tax matters," and the so-called One Big Beautiful Bill Act tax bill would deter countries from collecting revenues from U.S. companies through the "Pillar Two" global minimum corporate tax.
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