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.

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. 

So the next time a narcissist fruitcake like Trump fibs his way into the Oval Office, he will have another tool with which to destroy our economy and alienate any friends that we might have left. Many wise foreign investors and business will simply avoid doing business in the U.S.A.

https://www.bloomberg.com/news/articles/2025-05-30/key-house-republican-hopes-revenge-tax-on-foreign-investors-will-never-be-used