Revenge Tax Delay Expected Amidst Business Pushback | JQJO

Republican Senator Thom Tillis anticipates a delay in implementing the Section 899 'revenge tax' from President Trump's bill. Facing opposition from Wall Street and businesses, the tax, slated for January 1st, 2024, requires further deliberation. Senator Tillis, a key negotiator, believes more time is needed before the provision can be enacted, suggesting a potential postponement if the bill passes this summer.