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Lobbyists Scramble to Kill $100 Billion ‘Revenge Tax’

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“Business lobbyists are working to kill a tax measure embraced by Republican lawmakers that would punish companies based in countries that try to collect new taxes from American firms,” the New York Times reports.

“On Monday, Senate Republicans unveiled their domestic policy bill, which included a so-called revenge tax on foreign companies. That tax would punish companies based in countries that either adhere to the terms of a 2021 global minimum tax agreement or impose digital services taxes on American technology companies.”

“Last month, House Republicans passed a bill that would quickly impose the new tax. The Senate bill, seemingly in response to business concerns, would delay enforcing the provision until 2027.”

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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