00:00Congressional Republicans have removed the controversial Section 899 so-called revenge tax from President Trump's major legislative package.
00:08The provision would have imposed taxes on companies with foreign ownership and investors from countries deemed to impose unfair taxes on U.S. firms.
00:17Critics warned it could discourage foreign investment, potentially costing the U.S. 360,000 jobs and $55 billion annually over a decade.
00:26The removal adds complexity to the GOP's efforts to offset the cost of the huge package,
00:32especially after the Senate parliamentarian ruled that a central Medicaid provider tax overhaul violates procedural rules.
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