Senate Delays and Scales Back ‘Revenge Tax’ in Trump Bill

Senate Republicans plan to delay and make less onerous a levy targeting foreign companies and investors from countries that the US determines have been unfairly taxing US companies.

The provision, officially known as Section 899 and informally known as the “revenge tax,” was drafted by House Republicans and supported by the White House to counter several European countries, Canada, Australia and more nations from taxing US firms in a way those lawmakers argue is discriminatory.