Senate to Review Trump ‘Revenge’ Tax Worrying Wall Street (1)

Senate Republicans will examine the potential impact of a so-called “revenge” tax buried in President Donald Trump’s massive fiscal package before passing the measure, Majority Leader John Thune said Monday.

“There are several things that are in the bill that our folks are working with the House,” Thune told reporters when asked about the provision. “Particularly on the business side, we want to make sure the policies are pro-growth.”

The item, in legislation that passed the House as Section 899, would increase rates for individuals and companies from countries whose tax policies the US deems “discriminatory.”

John Thune

Photographer: Kent Nishimura/Bloomberg

Wall Street ...