Which Industries Would Be Targeted by Federal Tax Plans?

The Tax Foundation has conducted an analysis of the tax plans offered by the Biden administration and Congress to determine how those plans would impact the effective tax rates on foreign profits of U.S. multi-nationals by industry.

According to the Foundation, non-metallic mineral product manufacturing — producers of glass, stone, clay, and concrete products — would be the most significantly affected industry. Primary metal manufacturing, paper manufacturing, and petroleum and coal products manufacturing would also be very heavily impacted. 10/11/2021