The Group of Seven (G7) countries have come to an agreement on the Organization for Economic Co-operation and Development (OECD) concerning global corporate minimum tax rate, and giving the U.S. an exemption. That meets a goal set by President Donald Trump for the negotiations and wins the support of Congressman Kevin Hern.
Hern is the chair of the U.S. House Republican Policy Committee.
“Thanks to President Trump and Secretary Bessent’s leadership on the world stage, we are moving in the right direction to protect American tax sovereignty and American multinationals,” said Rep. Hern. “This is an issue I’ve been working on for more than three years, meeting with OECD officials both in Paris and in DC to stress the importance of Congress’ role in any tax agreement involving our country. The Biden Administration stubbornly advanced the unpopular Pillar 2 plan despite bipartisan objections from Congress.”
