Global Minimum Tax criticized by House Ways and Means Committee

In a Feb. 10 letter to the Organization for Economic Co-operation and Development (OECD), U.S. House Ways and Means Committee Chair Jason Smith (R-MO) criticized the OECD’s global minimum tax framework. He asserted that the Paris-based group had conducted backroom deals to “attack the United States,” and that the minimum tax would hurt U.S. jobs and revenues. At the same time, he criticized the White House for not having stopped the OECD. Republican lawmakers have long maligned the OECD’s tax deal. Now that they’ve retaken the House, they have a better bully pulpit from which to claim that it “fails to deliver on its most important objectives.”