House GOP members on Thursday announced they would remove a retaliatory tax measure from their sweeping domestic policy ...

A retaliatory tax that would have exposed U.S. jobs and retirement savings to risk is likely to be scrapped from Trump’s ...

The Treasury Department and Congress on Thursday moved to kill a so-called revenge tax that was set to raise taxes on foreign ...

The provision, officially known as Section 899 and informally known as the “revenge tax,” was drafted by House Republicans ...

The provision would grant Trump the authority to tax foreign holdings of US investments as a way to retaliate against ...

Treasury Secretary Scott Bessent said his request for Section 899 to be removed resulted from “a joint understanding among G7 countries.” ...

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Congressional Republicans have agreed to remove the so-called revenge tax provision from President Donald Trump’s big bill.

Section 899 — would allow the federal government to impose taxes on companies with foreign owners as well as investors from ...