Treasury Secretary Janet Yellen faced a round of questioning that saw the Democrats applaud her, and the Republicans admonish her for a little over two hours during Tuesday’s House Ways & Means Committee hearing.
The legislative package will end tax breaks for Chinese stocks, restrict sanctioned Chinese companies’ access to U.S. capital markets, increase transparency on risks to American corporations, and reduce exposure to these risks for retail investors and other Americans saving for retirement.
“Our tax code is supposed to support American manufacturers in building out genuine domestic supply chains. It shouldn’t be exploited by the Chinese Communist Party,” said Brown.
In January, the House of Representatives will vote on whether or not to close the current “water’s edge” loophole written into state tax law.
Congress must act to prohibit Chinese companies from receiving Inflation Reduction Act tax credits.
Chinese solar manufacturers could take advantage of the Inflation Reduction Act’s tax credits by opening plants in the United States.
Will the Inflation Reduction Act further solidify Chinese multinationals as the indisputable champions of global ‘green tech’ manufacturing?
Rep. Jason Smith puts globalist companies on notice for profit shifting. Says Chairmanship at House Ways & Means will focus on “shoring up” supply chains.
Shein’s Fast Fashion business reminds me of the barker in Pinocchio, (to paraphrase) “Get your tank tops, dress, sweaters, and t-shirts! Buy all you can!
WASHINGTON — The Coalition for a Prosperous America (CPA) today applauded the selection of U.S. Representative Jason Smith (R-MO) to serve as the Chairman of
