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The house version of the One Big Beautiful Bill included a 'revenge tax' on foreign investors' US profits which, though dropped after outcry, signals greater US openness to using financial instruments to tax cross-border financial flows.

factualpending

Speaker

Maurice Obstfeld

Evidence Quote

“it indicates the great the greater openness to using um financial instruments to tax uh financial flows across across the border.”

Source

The changing dollar regime: An update— Peterson Institute for International Economics
Created: 6/18/2026, 1:57:48 PM

My Notes

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