Press Releases

Yesterday, President Donald Trump announced his Day One Agenda, which clearly states that the Organization for Economic Co-operation and Development’s (OECD) global tax deal has no effect in the United States. 
 
"Over the last four years, the Biden administration put America last as they negotiated a bad deal with the OECD that would increase taxes and have a disproportionately negative effect on our country and economic competitiveness – a deal that even Democrats opposed," said Rep. Estes. "I’ve been a fierce opponent of the OECD’s globalist tax regime that usurps our nation’s tax sovereignty. On day one of the new administration, President Trump has issued executive orders that will put an end to this nonsense and make clear that no foreign nation or organization has the right to dictate U.S. tax policy, and that only Congress has the authority to enter into such deals. I look forward to working closely with President Trump to protect American citizens and our tax base."

Background:
For years Rep. Estes has been sounding the alarm and pushing back against the OECD’s global tax scheme. Last week he published an op-ed in London’s Telegraph outlining U.S. opposition to the OECD deal. He previously published an op-ed with MP Priti Patel on the OECD Pillar Two tax scheme, led a letter to Treasury demanding accountability and traveled with Ways and Means colleague to Germany and France to discuss Pillar Two with European leaders. He also introduced legislation to impose reciprocal taxes on countries that use the OECD deal to impose unfair taxes on U.S. business and raid the U.S. tax base. Earlier, he penned an op-ed in The Hill outlining the concerns with the OECD deal and published a Bloomberg op-ed with Rep. Randy Feenstra (R-Iowa) highlighting how the OECD tax deal would harm the United States.