The One, Big, Beautiful Bill cuts one proposal. That’s Sec. 899, a proposal to increase taxes on individuals associated with countries that impose unfair taxes on U.S. companies. Sometimes called a “revenge tax,” it focuses mainly on areas such as digital service taxes and the global minimum tax developed by the Organization for Economic Cooperation and Development. Critics say the tax hikes would be hard to implement and enforce. Sec. 899 doesn’t meet the requirements of the “Byrd Rule,” which states reconciliation items must clearly impact federal revenue. Ultimately, it was dropped from the bill.
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