Key Republican Hopes ‘Revenge’ Tax Will Be a Never-Used Deterrent

A key House Republican tax negotiator said he hopes the so-called “revenge” measure in President Donald Trump’s tax and spending bill targeting foreign investors will be a deterrent that is never deployed.

House Ways and Means Committee Chair Jason Smith on Friday defended the provision, called Section 899, which calls for increasing income tax rates on foreign individuals and companies from countries whose tax policies the US deems “discriminatory.”