Section 899
From
Joseph Pereira@1:124/5016 to
All on Thursday, May 29, 2025 06:20:23
Section 899 is also found in Trump's Big Beautiful Tax Bill. In short, Section 899 stipulates that if the US determines a country imposes an "unfair" tax, the US can impose an additional tax on companies and residents of that country if they do business in the US.
So, the US can suddenly have a problem with a tax it disapproves of, and if you then do business in the US, you could easily be subjected to an additional 12.5% tax.
This is an excellent way for the US to further sideline itself, as this will make companies more hesitant to do business in the US. Your earning model is certainly jeopardized by such a retaliatory tax, because that's what it is.
Not a good development. The Big Beautiful Tax Bill still needs to pass through the Senate. Trump has a majority of 53 to 47, but not everyone on the Republican side seems convinced of the desirability of this enormous bill.
A bill that gives tax breaks to the rich and will heavily impact many poor Americans. For example, millions of low-wage working Americans will lose their health insurance.
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