News Release
ICI Statement on Section 899
Washington, DC; May 30, 2025—Today, the Investment Company Institute (ICI) issued the following statement on Section 899, a provision of the House-passed reconciliation bill, the One Big Beautiful Bill Act:
"It is entirely understandable and correct for Congress to write laws that protect US business interests overseas. Section 899, however, is currently written in a manner that could limit foreign investment to the US—a key driver of growth in American capital markets that ultimately benefits American families saving for their futures. We encourage the Senate to make this provision more targeted to respond to unfair foreign taxes and other concerning measures rather than disincentivizing beneficial foreign investment in the US."