Curb foreign tax drain

The article argues that foreign funds underwriting U.S. lawsuits can receive their share of awards as capital gains, potentially avoiding U.S. taxes while plaintiffs pay ordinary income tax. It says this practice drains resources from American businesses and contributes to higher costs for consumers. The author urges Congress to close the tax loophole this year, potentially through a reconciliation bill, and direct the resulting revenue toward tax relief.

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