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US corporate debt seen hurt by Max Baucus undoing 1984 law

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U.S. companies could encounter higher borrowing costs under a congressional tax plan that would reverse a 29-year-old policy making it easier for other countries’ residents to invest in U.S. corporate debt. Senate Finance Committee Chairman Max Baucus has proposed ending what's known as the portfolio interest exemption. If the change were enacted, some non-U.S. investors would have to pay...

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