House Ways & Means Committee Chairman Smith: Biden-Harris Administration Forfeiting U.S. Sovereignty in Global Tax Deal is an Unconstitutional Giveaway to China
September 19, 2024
September 19, 2024
WASHINGTON, Sept. 19 -- Rep. Jason Smith, R-Missouri, chairman of the House Ways and Means Committee, issued the following news release:
The Biden-Harris Administration's collusion with foreign governments of the Organization for Economic Co-operation and Development (OECD) to impose a global minimum tax on U.S. businesses - including subjecting U.S. employers to a new undertaxed profits rule (UTPR) - surrenders U.S. sovereignty and economic competitiveness, forfeits over $100 billi . . .
The Biden-Harris Administration's collusion with foreign governments of the Organization for Economic Co-operation and Development (OECD) to impose a global minimum tax on U.S. businesses - including subjecting U.S. employers to a new undertaxed profits rule (UTPR) - surrenders U.S. sovereignty and economic competitiveness, forfeits over $100 billi . . .