**Business Lobbyists Oppose Major 'Revenge Tax' Legislation Amidst Investment Concerns**

As the Republican-controlled Congress prepares to roll out a domestic policy bill, significant controversy surrounds a tax measure targeting foreign companies, which is projected to generate over $100 billion in revenue over the next decade. The proposed legislation is aimed at punishing countries that impose new taxes on American businesses, which could deter foreign investment at a critical time for the U.S. economy.

Business lobbyists are mobilizing efforts to overturn sections of the tax policy that they argue could harm the U.S.'s attractiveness to foreign investors. This 'revenge tax' would particularly affect foreign firms that attempt to implement the global minimum tax agreement reached in 2021. Jonathan Samford, head of the Global Business Alliance, asserted that this contradicts President Trump's goal of increasing foreign investments in the U.S.

The legislation could reignite trade conflicts and has intensified concerns on Wall Street, especially with the G7 summit approaching, where global taxation issues will be discussed. President Trump has distanced himself from previous international tax agreements, underscoring a unique stance amid shifting global fiscal strategies aimed at preventing a competitive decrease in tax rates among nations.

As the battle heats up over the proposed 'revenge tax,' the ultimate fate of the domestic policy bill remains uncertain, with implications that extend beyond the U.S. to foreign partnerships and international economic relations.