Acknowledgments iii

Executive Summary iv

How Does the One Big Beautiful Bill Act Reform US International Taxation? 1

Summary of OBBBA’s International Tax and Investment Reforms 4

The Tax Burden of New Domestic Investments 6

The Taxation of Foreign Investments 9

Conclusion 13

Appendix 15

Summary of OBBBA’s International Tax Reform 15

The Taxation of Domestic Investments 15

The Taxation of Foreign Investments 17

Notes 28

References 29

About the Author 30