Latest news with #USTaxes
Bloomberg
03-06-2025
- Business
- Bloomberg
Whose Idea Is Trump's Big, Absurd ‘Revenge' Tax?
An obscure item tucked deep inside President Donald Trump's big, beautiful tax and spending bill is spooking Wall Street. The question is how and why this idea came up in the first place. Section 899, titled 'Enforcement of Remedies Against Unfair Foreign Taxes,' gives the White House the power to levy a new tax of up to 20% on foreigners with US investments. It's nicknamed the 'revenge' tax, in that the administration would be able to to charge investors from countries that it believes unfairly tax American businesses.
Wall Street Journal
30-05-2025
- Business
- Wall Street Journal
A New ‘Revenge Tax' Aimed at Foreign Investors Is Rattling Wall Street
A retaliatory measure on foreign governments tucked into President Trump's tax bill has investors on edge. The proposed change would give the U.S. power to impose new taxes of up to 20% on foreigners with U.S. investments, hitting governments, individuals and companies with U.S. outposts. It's being called a 'revenge tax' because it's specifically designed to apply only in cases where other countries are deemed to be imposing unfair or discriminatory taxes against U.S. companies.
