July 08, 2021
U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) and U.S. House Ways and Means Ranking Member Kevin Brady (R-Texas) sent a letter to U.S. Department of Treasury Secretary Janet Yellen, ahead of a meeting of finance ministers from the G-20, outlining concerns with the high-level agreement reached at the Organisation for Economic Co-operation and Development (OECD).
From the letter:
“There has been consistent bipartisan, bicameral support in Congress for the OECD as the appropriate venue to address the digitalization of the economy, potentially including changes to longstanding global tax rules. However, the OECD project would be counterproductive if the Administration’s negotiating position concedes ground to foreign counterparties and harms the U.S. economy.
“Congressional support for an agreement at the OECD will hinge on protecting American workers and the U.S. tax…