One provision in President Donald Trump’s major tax cuts and spending bill would have led hundreds of thousands of U.S. citizens to lose their jobs, and it’s now it’s dead.
It’s the so-called “revenge tax” drafted by U.S. House of Representatives Republicans for Trump’s One Big Beautiful Bill Act (OBBBA), a provision which aimed to impose extra taxes on foreign individuals and businesses earning income in the U.S. if they’re from countries that levy “discriminatory or unfair taxes” against the U.S.
