Delays on ‘revenge’ tax likely as Senate tweaks bill

Senate Poised to Postpone ‘Revenge’ Tax

Senate Republicans are considering pushing back when the Section 899 “revenge” tax would take effect as they work to make changes to the House’s massive tax-and-spending package, a key senator said.

 “At the very least I expect a delay,” Sen. Thom Tillis (R-N.C.), a member of the Senate’s tax-writing committee, told reporters Tuesday, adding that the timing is under discussion.

The House bill included a provision to increase tax rates for foreign investors whose home countries have tax policies the US considers to be discriminatory. Under the bill, Section 899 would take effect ...