Taxpayer Watchdog Blasts Global Corporate Minimum Tax Proposal

For Immediate Release                                                                                              Contact: Courtney Mattison (802-779-6416)

Washington, D.C. – The Taxpayers Protection Alliance (TPA) is deeply concerned about the potential impacts of instituting the administration’s proposed global corporate minimum tax. Such a tax would drive businesses away from the United States and any other nation that signs on.

In response, TPA VP of Policy Patrick Hedger offered the following statement:

“Corporate taxes are regressive, predominantly passed on to workers and consumers through reduced compensation and higher prices. We won the race to the top, having the highest corporate tax rate in the industrialized world prior to the tax reforms of 2017. It contributed to decades of anemic growth. When America dropped its rate to a competitive 21 percent investment, jobs, and wages flourished prior to the onset of the pandemic. Biden’s global minimum corporate tax isn’t so much about ending the competition between nations, but rather ending the competition between progressives’ wishes and reality.”

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Taxpayers Protection Alliance (TPA) is a non-profit, non-partisan organization dedicated to educating the public through the research, analysis and dissemination of information on the government’s effects on the economy.