Senate Finance Republicans Commend President Trump's Repudiation of OECD Global Tax Code

Executive order reaffirms U.S. tax sovereignty and Congress' tax-writing authority, protects American businesses and workers

Washington, D.C.--U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) and all Senate Finance Republicans praised President Trump's executive order articulating steps the Trump Administration is taking to end the Biden Administration and Organization for Economic Co-operation and Development's (OECD) global tax overreach.

"Bypassing Congress, the Biden Administration collaborated with the OECD on a global tax code that cedes US taxing rights and siphons US tax revenues to foreign countries, ignoring the best interests of American businesses and workers. President Trump's executive order to nullify those America-last commitments could not come soon enough.

"We look forward to working with the Trump Administration and our House Republican colleagues on developing tools to protect US interests and discourage foreign countries from implementing and imposing discriminatory and unfair taxes on US businesses and workers."

For a list of Senate Finance Committee Republican members, click here.

Read more:

• Crapo, Smith: Latest OECD Guidance Acknowledges Biden's Global Tax Surrender is Unworkable and Unlawful
• JCT: U.S. Stands to Lose Revenue Under OECD Tax Deal
• Crapo Statement on Ways and Means Republicans' Defending American Jobs and Investment Act