A coalition of large multinational companies is lobbying to delay a tax increase on foreign earnings in the Build Back Better plan
WASHINGTON—A coalition of large multinational companies has launched a late lobbying blitz to delay a tax increase on foreign earnings in the Build Back Better plan, saying it would hurt U.S. businesses when they compete with foreign rivals.
The dispute represents another potential stumbling block for President Biden’s top domestic-policy priority, which relies on corporate tax increases to fund greater spending on education, child care, healthcare and other domestic programs.
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