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New Trump tax bill provision may tax foreign firms, risking 360,000 U.S. jobs and $55B in GDP over a decade.
Trump's tax bill passed in the House includes a provision, Section 899, that could impose taxes on foreign companies and investors from countries seen as charging "unfair foreign taxes" on U.S. firms.
Critics argue this could discourage international investment, potentially costing the U.S. 360,000 jobs and $55 billion annually in GDP over 10 years.
The Senate will decide the provision's fate and its impact on the economy.
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La nueva disposición del proyecto de ley tributaria de Trump puede gravar a las empresas extranjeras, arriesgando 360,000 empleos estadounidenses y $ 55B en PIB durante una década.