Texas Congresswoman Beth Van Duyne (R) joined her fellow congressmen in introducing the Unfair Tax Prevention Act. The legislation is designed to prevent foreign countries from attacking U.S. tax revenues and jobs.
“This administration could not convince Congress to pass its extremist tax hike agenda, so it handed the keys over to tax writers in Paris,” said Rep. Van Duyne.
Rep. Van Duyne claimed that if the Organization for Economic Co-operation and Development’s (OECD) Pillar 2 Under Taxed Profit Rule (UTPR) is implemented against American workers by a foreign country, the Unfair Tax Prevention Act would impose “a reciprocal tax measure that will apply as long as the foreign country’s unfair tax remains in place.”
The Texas congresswoman stated that the new plan would benefit China, as well as harm the United States.
“Unsurprisingly, these tax writers drafted a plan which would attack our tax base, harm our economic strength, and transfer wealth from the United States to the coffers of foreign countries — all while giving China a free pass to continue cheating the system.”
Van Duyne continued her statement, criticizing the Biden administration’s economic legislation and emphasizing constitutional law.
“The Biden Administration’s global tax surrender is un-American. Until they change course, I will continue to fight to reclaim sovereignty over our tax code alongside my colleagues on the Ways and Means Committee — the chief tax-writing committee in the U.S. House of Representatives. In case the executive branch needs a refresher, our constitution gives Congress sole tax-writing authority.”
The Texas Representative was joined by Kansas Congressman Ron Estes (R) as well as Ways and Means Chairman Jason Smith (R).
Rep. Estes expressed his issues with the Biden administration’s deal with the OECD.
“After repeated objections from policymakers, including myself, and business leaders, the Biden administration has negotiated a deal with the OECD that has a disproportionately negative effect on the United States and our economic competitiveness,” said Rep. Estes.
The Kansas representative continued, stating, “Building on the Defending American Jobs and Investment Act, introduced by Ways and Means Republicans, this legislation protects the U.S. tax base from unfair extraterritorial taxes by foreign countries – and imposes stiff penalties on those countries if they implement them. It’s time for the OECD and foreign countries to abandon the UTPR surtax and its fundamental flaws.”
Rep. Smith shared similar sentiments to his fellow representatives on the bill.
“Congressional Republicans are not going to turn a blind eye to other countries – emboldened by the Biden Administration’s dangerous and misguided policies – targeting U.S. companies with higher taxes that will destroy U.S. jobs and steal U.S. revenues,” said Rep. Smith.
The committee chairman continued to stress the idea that the U.S. will not bend to China’s communist policies.
“Nor will we allow foreign entities – including companies controlled by the Chinese Communist Party – to exploit those circumstances to gain an unfair competitive advantage against American workers and job creators. It is particularly shameful that the deal the Biden Administration has cut at the OECD does nothing to hold China accountable or ensure it will not cheat under this new global tax scheme.”
Smith concluded his statements by lamenting the halting of the Unfair Tax Prevention Act’s reciprocal tax measures.
“This week’s announcement by the OECD that it’s delaying the deadline for implementation is a clear sign that other countries are realizing that while the Biden Administration may be interested in colluding with them to raise taxes on American businesses, the Congress that actually writes tax law in our country is not on board. This legislation is the next and necessary step to defend American sovereignty and jobs from the Biden Administration’s global tax surrender.”
In other news, Texas Governor Greg Abbott (R) is receiving much criticism from Texas Representatives for the "inhumane" practices taking place at the U.S.-Mexico border.
Texas Representative Tony Gonzales (D) shared how the disturbing actions at the border troubled him as a father.
“Border security should not equal a lack of humanity. As a father of six, I find it disturbing for anyone, much less a child, to be deprived of water in 100-degree weather, regardless of their immigration status.”
