Why Trump Is Pushing for a Global ‘Revenge’ Tax: QuickTake

A measure in President Donald Trump’s sweeping domestic policy legislation designed to penalize countries with tax policies the administration considers unfair is causing a stir on Wall Street.

Known as Section 899, the provision would create a new provision in the US tax code that would boost taxes on the US income of non-US-based businesses and individuals. The measure has come to be called the “revenge” tax because it would increase tax rates only for countries whose tax policies the US deems “discriminatory.”

Republicans in Congress have said the rule is designed to persuade countries to repeal ...