GOP critics branded the bill as yet another big-government "massive new entitlement program" that would have increased taxes and possibly kill jobs.
To pay the bill's estimated $7.4 billion cost over 10 years, the legislation would have prevented foreign multinational corporations incorporated in tax haven countries from avoiding tax on income earned in the U.S.
Bill supporters said that would close a tax loophole. Republicans branded it a corporate tax increase.
To pay the bill's estimated $7.4 billion cost over 10 years, the legislation would have prevented foreign multinational corporations incorporated in tax haven countries from avoiding tax on income earned in the U.S.
Bill supporters said that would close a tax loophole. Republicans branded it a corporate tax increase.