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Justices uphold Trump tax on overseas investments in win for Biden Arcola
- Location: Arcola, Indiana, United States
The tax involved was enacted by Congress in 2017 as part of a larger package signed by then-President Donald Trump. The one-time mandatory repatriation tax was levied on shareholders on undistributed profits accrued between 1986 and the end of 2017 by certain foreign corporations that are majority owned by Americans. The provision was expected to raise $340 billion over a decade.
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