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House Republicans propose "revenge tax" on foreign investors to counter unfair taxes on U.S. firms.
A proposed "revenge tax" in the House Republicans' spending package could impose up to a 20% tax on foreign investors and multinational companies in the U.S., if their home countries impose "unfair foreign taxes" on U.S. companies.
The measure, known as Section 899, aims to raise an estimated $116 billion over 10 years and expand the BEAT tax to prevent profit-shifting abroad.
It has faced pushback from Wall Street and requires Senate approval.
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Los republicanos de la Cámara de Representantes proponen un "impuesto de venganza" sobre los inversores extranjeros para contrarrestar los impuestos injustos sobre las empresas estadounidenses.