Republican plans to scale back tax deductions on corporate interest risk pushing more borrowing overseas, say experts and market participants, eroding the competitive advantage of the mammoth U.S. bond market. Rep. Kevin Brady (R., Texas), chairman of the House Ways and Means Committee, said this month he wanted to curtail companies’ capacity to deduct net interest payments from taxable income to pay for tax cuts. The comments...

Source: Wall Street Journal August 30, 2017 09:22 UTC