US Company Ties to Foreign Adversaries Targeted in GOP Tax Bill

Businesses that use technology controlled by the Chinese government and other adversary nations would lose lucrative tax breaks under legislation proposed by a House Republican tax-writer.

Rep. Nathaniel Moran (R-Texas) is filing legislation obtained by Bloomberg Tax that would prevent businesses from claiming bonus depreciation, research and development expensing and credits, or business interest deductions if they use technology controlled by foreign adversaries.

Moran crafted the bill to pressure US companies in the energy and utility infrastructure sectors from using ...