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Ways and Means panel votes to raise taxes for Americans abroad
The House Ways and Means Committee approved higher taxes on most Americans working overseas while delaying action on multinationals. A six month study was set on foreign income tax proposals, and an eventual shift from a $20,000 earned income exclusion to a $1,200 tuition deduction was endorsed, with other measures expected to raise at least $10 million yearly.
MENTIONED IN THIS ARTICLE
Washington
House
Ways and Means Committee
The
Treasury
U.S
United States
Hawaii
Alaska