Congressman Tom Brady (R-Tx.) claimed on Wednesday that he's confident that Congress "....will reject any tax agreement that advantages foreign companies and workers over U.S. companies," and that it would reject a plan that "surrenders a key part of America's tax base that we'll need frankly to pay for our government services going forward."
Brady is the highest-ranked Republican on the House Ways and Means Committee, so it would be an insult to imply that he doesn't understand the purpose of creating a global minimum tax rate. It would also be an insult to imply that Brady doesn't know that U.S. corporations pay little more than zilch in U.S. taxes by exporting their taxable entities abroad.
Sure he understands. He just thinks his voter base doesn't. The international agreement that Janet Yellen, federal reserve chair, is working so hard to bring to life is designed to make U.S. corporations pay a reasonable share of their taxes to the U.S. government.
As for his remark that a bill that "advantages foreign companies and workers over U.S. companies," we can only assume he’s upset because he wants the companies that fund his campaigns to pay no taxes. English majors will note that Brady has also transformed a noun into a transitive verb.
Brady says it will be years before the agreement is done, but clearly Republican corporate donors are eyeballing Yellen's progress nervously. Why else would Brady mislead his own voters?
https://thehill.com/policy/finance/561921-top-republican-signals-early-resistance-to-any-global-tax-deal
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