The Indicator from Planet Money - What's a revenge tax? Listen to The Indicator from Planet Money - What's a revenge tax? by NPR on Podcast Addict. For four decades, the US has maintained a consistent policy position: money should be fairly free to come and go in and out of the country. That's changing. Two sections in the One Big Beautiful Bill Act would add friction. First is a 3.5% tax on immigrants sending money home, commonly known as remittances. Second is what's known as Section 899 or, colloquially, the 'revenge tax'.

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2/9 Section 899 would have imposed 5-20% withholding taxes on dividends Canadians receive from U.S. companies.

Target: countries with "unfair" taxes like Canada's Digital Services Tax on Amazon, Google, Meta, Uber and Airbnb. First DST payment due June 30.
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This is big news
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1/9 🇺🇸 TRUMP'S "REVENGE TAX" BACKFIRES 🇺🇸

"Nobody wins a trade war or tax war"

U.S. analysis shows Trump's proposed tax on Canadians would eventually cost America $8.1B annually.

Elizabeth Thompson reports for CBC.
#RevengeTax #TrumpTariffs

US senator suggests delay for ’revenge tax’ in Trump’s bill Investing.com -- Republican Senator Thom Tillis said Tuesday he expects a delay in implementing the Section 899 "revenge tax" that is part of President Donald Trump’s tax and spending bill. The additional tax provision has faced significant pushback from Wall Street and businesses. As currently written in the legislation, the tax would take effect on January 1 for companies located in certain foreign countries, assuming Congress passes the bill this summer. Tillis, who is known as a moderate and has been heavily involved in the bill’s negotiations, told reporters: "At the very least I expect a delay." Wall Street analysts have raised concerns about the potential impacts of the provision, warning it could reduce demand for U.S. Treasuries and weaken the dollar. The senator’s comments suggest lawmakers may need more time to address concerns about the tax measure before full implementation. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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🚨 ALERTA: Deutsche Bank advierte que la 'Revenge Tax' en la propuesta de ley de Trump podría desencadenar una guerra de capitales. La medida fiscal, oculta en el texto, eleva tensiones globales. #Trump #DeutscheBank #RevengeTax

U.S. Senate Considers 'Revenge Tax' Bill Targeting Allies with Differing Tax Regimes | AI News Brew <p>WASHINGTON - A controversial tax bill making its way through the U.S. Senate is raising concerns among international allies, as it proposes higher tax rates on U.S.-sourced income for investors fro...

U.S. Senate Considers 'Revenge Tax' Bill Targeting Allies with Differing Tax Regimes
ainewsbrew.com/article/4312

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