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Companies Lobby Against Democrats’ Interest-Deduction Limits
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wsj.comA tax provision under consideration in Congress that is designed to get multinational businesses to pay more U.S. taxes could lead companies to move borrowing and investment offshore, some corporate executives and tax professionals say.
Part of Democratic lawmakers’ $1.85 trillion social-spending and climate package, the proposal would tighten limits on the amount of interest expense that multinational companies can deduct from their U.S. taxes each year, based on where they record profits.
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