Executives converge on Washington to halt Trump’s foreign investment tax

Dozens of executives from major global companies are lobbying against Section 899 of Donald Trump’s proposed budget bill, which would impose higher taxes on foreign investments in the US, potentially jeopardizing millions of American jobs. With representatives from approximately 70 companies set to meet Congress, concerns are rising that the provision could deter corporate investment and disrupt financial markets, particularly affecting foreign-owned firms that employ 8.4 million Americans. Financial trade associations are advocating for modifications or delays to preserve international investment and mitigate risks to the US economy.