WASHINGTON, DC -Today, House Ways and Means Committee Chairman Richard E. Neal (D-MA) and Senate Finance Committee Chairman Ron Wyden (D-OR) released the following statement on the news that more than 100 countries agreed to support a global minimum tax rate of at least 15 percent:
“We congratulate Secretary Yellen and the Biden Administration on today’s landmark agreement to stop the race to the bottom in corporate tax and find consensus on a global minimum tax rate. It is in large part thanks to the administration’s tenacious leadership that we have reached this important point - one that seemed nearly impossible six months ago. Ensuring that multinational companies pay their fair share and compete on a level playing field is critical to our ability to build back better, and this agreement lays a foundation to move forward on these issues and put an end to discriminatory digital services taxes. We look forward to reviewing the entire OECD agreement and its impact on U.S. workers, business, and taxpayers."
