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.” ...

Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy   The Big Story  Bessent ...

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 ...

In contrast, Section 899 "is aimed at the tax policies of countries that are perceived to act against U.S. interests" and is "not intended to reduce capital flows in or out of the U.S." ...

Initially, the industry's reaction to Section 899 focused on foreign investors and the increased expenses they would incur, as well as the U.S. administration's retaliation against certain tax ...

Dubbed a “revenge tax” by the finance community, Section 899 of the budget bill calls for increasing levies for individuals and companies whose home countries’ tax policies the US deems ...