The US Treasury plans to revise its sovereign wealth fund tax proposal after warnings from the private credit industry.

Previously, private credit and private equity firms warned that these reforms could dampen foreign capital investment in the U.S. market. A Treasury Department spokesperson stated that government officials made this decision after listening to feedback from the investment and real estate industries. "We are revising the proposal to address key issues and ensure that it is conducive to stable, long-term capital flows," the spokesperson said. Expand