“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.”
Save to Favorites