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Rep. Estes Introduces Legislation to Protect Americans from Unfair Taxes in Global Tax Pact

Press Release

By: Ron Estes
By: Ron Estes
Date: July 18, 2023
Location: Washington, DC
Issues: Taxes Foreign Affairs Legislative Branch

"After repeated objections from policymakers, including myself, and business leaders, the Biden administration has negotiated a deal with the OECD that has a disproportionately negative effect on the United States and our economic competitiveness. Building on the Defending American Jobs and Investment Act, introduced by Ways and Means Republicans, this legislation protects the U.S. tax base from unfair extraterritorial taxes by foreign countries -- and imposes stiff penalties on those countries if they implement them. It's time for the OECD and foreign countries to abandon the UTPR surtax and its fundamental flaws."


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