GOP Bill Against Global Minimum Tax a First Step, Staffer Says

A GOP tax adviser for House Ways and Means Committee Chair Jason Smith (R-Mo.) said Thursday the retaliatory bill introduced in the House in response to the OECD-led global tax deal is “potentially the first step” in addressing what Republicans view as extraterritorial or discriminatory taxes.

Eric Oman, deputy chief tax adviser for Ways and Means, said Republicans were “frustrated” and “disappointed” with the lack of consultation of Congress “throughout the last few years” as progress on Pillar Two moved forward internationally.

His remarks were made during a congressional panel at the Federal Bar Association Tax Insurance Seminar ...