The Trump administration could kill a new tax regime that’s causing massive heartburn for K Street if there’s a fast breakthrough in international talks, according to multiple sources with knowledge of the plans.
The so-called “revenge tax” is meant to hit back at foreign governments charging “unfair” taxes, like the global minimum tax deal that Republicans despise. It’s generating a huge amount of fear from foreign companies that operate in the United States, whose taxes could go up by as much as 15%.
