April 05,2022

Crapo, Brady Warn Against Partisan, Pitfall-Laden Path Forward on Global Minimum Tax

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.