GOP Says US Will Verify Countries Make Good on Revenge Tax Deal

The US has to ensure that other countries are holding up their end of the bargain to ensure American companies aren’t subject to parts of the global minimum tax, a GOP tax writer said.

Rep. Ron Estes (R-Kan.) said Monday the US took the first step in the process when it removed the so-called “revenge tax” from the Republicans’ $3.4 trillion tax-and-spending bill that’s now law. That deal came after the Group of Seven allies came to an understanding for more preferential treatment of American businesses under the global minimum tax.

However, there’s no concrete agreement just yet. A political ...