Hern Introduces Bill to Protect U.S. Investments in Emerging Markets
June 13, 2023
June 13, 2023
WASHINGTON, June 13 -- Rep. Kevin Hern, R-Oklahoma, issued the following news release:
Representative Kevin Hern (OK-01) introduced the Supply Chain Security Act to address the unintended consequences of the final foreign tax credit (FTC) regulations issued by the Department of the Treasury and the IRS on December 28, 2021. These regulations risk subjecting U.S. multinational corporations to double taxation and discourage investment in crucial supply chain markets.
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Representative Kevin Hern (OK-01) introduced the Supply Chain Security Act to address the unintended consequences of the final foreign tax credit (FTC) regulations issued by the Department of the Treasury and the IRS on December 28, 2021. These regulations risk subjecting U.S. multinational corporations to double taxation and discourage investment in crucial supply chain markets.
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