The US administration also committed to dropping Section 899 from its tax and spending package. Named the “revenge tax” as a ...

Biden and Yellen handed foreign countries a license to overtax U.S. businesses. Congress seeks a repeal.

The Treasury Department and Congress on Thursday moved to kill a so-called revenge tax that was set to raise taxes on foreign investment and had spooked Wall Street and global business leaders.

The Treasury Department announced a deal with G-7 allies that will exclude US companies from some taxes imposed by other ...

Section 899 is a tax proposal allowing President Trump to counteract foreign taxes deemed unfair. Its inclusion in a budget ...

The United States and G7 nations have reached an agreement to adopt a new side-by-side international tax framework that ...

In this episode of Tax Notes Talk, Jonathan Samford and Kevin Klein of the Global Business Alliance discuss the proposed ...

U.S. Treasury Secretary Scott Bessent said on Thursday that he has asked Republicans in Congress to scrap the Section 899 ...

Treasury Secretary Scott Bessent asked House and Senate Republicans on Thursday to scrap the “revenge tax” on foreign ...

Concerns have arisen over Section 899, a provision contained within the reconciliation package that would allow the Treasury ...

Section 899 was a so-called "revenge tax" that would have raised income taxes on US assets held by people and businesses in other countries. Michael M. Santiago/Getty Images.