US Could Lose Billions Under Global Minimum Tax, JCT Report Says

The US stands to lose billions of dollars in tax revenue if it joins the world in enacting a 15% global minimum tax, and could lose even more if it doesn’t enact the tax itself, according to a new analysis from Congress’ scorekeeper.

Tax revenue in the US could decline by $122 billion over the next decade if the rest of the world enacts the minimum tax in 2025 but the US doesn’t act, according to an analysis from the Joint Committee on Taxation. If the US enacts Pillar Two in 2025 along with the other countries, US tax revenue ...