The US Treasury Department requires Congress to cancel a revenge tax in the Trump Budget Bill in

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The Treasury asked Congress to cancel a ruling on the budget budget bill in Donald Trump, which allows the US government to raise taxes on foreign investment from the selected countries, reflecting a plan that warned Wall Street of Rail markets.

Treasury Secretary Scott Bessin said on Thursday that parts of the Global Global Tax System in the Organization for Economic Cooperation and Development will not apply to American companies. As a result, the revenge procedure is “large and beautiful” for the American president budget Bell Bell no longer needed.

BESSENT He said on the social media site X that its agency had asked legislators in the House of Representatives and the Senate to remove the provisions of Article 899 in the Trump bill. Article 899 allowed the US government to impose additional taxes on companies and investors from countries that it considered to have punitive tax policies such as those allowed under the OECD system.

Some banks and investors have argued that section 899 may cause a decrease in corporate investments and a decline in American assets.

Pesin said that the United States had reached an “understanding” with other members of the G7 from the leading countries, which dominates the Organization for Economic Cooperation and Development.

“OECD Pillar 2 will not apply to American companies, and we will work cooperatively to implement this agreement through the comprehensive OECD-G20 in the coming weeks and months,” he wrote.

BAILAR 2 of the new OECD system offers the average corporate tax rate at least 15 percent with measures that allow other countries to collect minimal tax if the original countries do not do. The system started this year.

This is a developing story