House Ways and Means Committee Chair Jason Smith (R-Mo.) issued a warning Wednesday to G7 countries that he expects progress in international tax talks — and soon.
GOP tax writers waged a pressure campaign earlier this year against foreign countries’ plans for implementing the global minimum tax regime, known as pillar II.
Republicans included a retaliatory tax — known as Sec. 899 — in the One Big Beautiful Bill. It triggered an uproar from foreign companies that do business in the United States.
