The proposal would create a 41% levy on litigation finance profits, likely reducing the attractiveness of the investment vehicle.
Off-the-shelf artificial intelligence tools with domain-specific applications are increasingly being adopted, as firms prioritize faster deployment and lower development overhead.
Referred to as Section 899, the provision would have raised taxes on foreign investments in the U.S., which investors said would hurt capital markets.
The legislation, which awaits the governor’s signature, calls for boosting investments in clean energy.