Hern asks Sec. Yellen to consider economic fallout of Biden foreign tax plan
Representative Kevin Hern (OK-01) sent a letter this afternoon to Janet Yellen, the secretary for the Department of the Treasury, regarding Foreign Derived Intangible Income (FDII) deductions. The Biden Administration is working to eliminate FDII which would put globally engaged U.S. companies at a significant disadvantage. This letter urges Secretary Yellen to reconsider repealing…