Why the Corporate Minimum Tax Will Likely Survive a GOP Clawback

Getting rid of the corporate alternative minimum tax—hated by companies and many Republicans—will likely be harder than critics think.

The 15% tax on massive US companies’ financial statement income was a major tax law shift and victory for Democrats in their 2022 tax-and-climate law. The GOP doesn’t like it, but extending their own signature 2017 tax law is a priority and they’ll need all the revenue they can get for offsets.

That could mean Republicans avoid the CAMT, which applies to companies with over $1 billion in annual book profits on average over the previous three years, to ward against ...