Trump's Tax Bill Raises Foreign Taxes
This is a U.S. news story, published by ABC News, that relates primarily to House news.
U.S. news
For more U.S. news, you can click here:
more U.S. newsNews about inflation
For more inflation news, you can click here:
more inflation newsABC News news
For more news from ABC News, you can click here:
more news from ABC NewsAbout the Otherweb
Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like this article about inflation, you might also like this article about
overall tax cuts. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest unfair foreign taxes news, foreign profits news, news about inflation, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!
tariffsABC News
•Business
Business & Economics
Trump's tax bill could raise taxes on foreign companies
80% Informative
The House -passed version of the legislation would allow the federal government to impose taxes on foreign-parented companies.
The fate of the measure rests with the Senate — setting off a debate about its prospects and impact.
A new analysis by the Global Business Alliance estimates that the provision would cost the U.S. 360,000 jobs and $55 billion annually over 10 years .
The tax could cut a third off the economic growth anticipated from the overall tax cuts.