Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho),
Ranking Member of the U.S. Senate Finance Committee, and U.S. House Ways and
Means Republican Leader Kevin Brady (R-Texas) issued the following statement as
OECD negotiations stalled once again over its global minimum tax framework:
“EU finance ministers have again failed to agree on the
global minimum tax, further evidence that the Biden Administration was
premature in taking a victory lap on the OECD Agreement. If the EU is
already hitting roadblocks, no one should expect countries like China to
implement this deal anytime soon.
“The Biden Administration has neglected to consult with
Congress in this process, and the result is a bad deal for American businesses
and workers. The Administration should abandon its failed go-it-alone
approach and work with Congress to negotiate a deal that protects U.S. economic
strength.”
Crapo and Senate Finance Committee Republicans
have repeatedly asked for the U.S. Department of the Treasury to engage with Congress in a
meaningful way regarding international tax negotiations, and to provide the
requested data and analysis necessary for Congress to properly evaluate the
effect of its agreement on the U.S. business community and U.S. revenue.