Ways and Means Committee Republicans are calling on Treasury to preserve documents and communications connected with the OECD-led global tax deal, as they press the department again for details on how the measure will impact US revenue.
“We write to insist that you take all appropriate measures to collect and preserve all documents, communications, and other records that are relevant to the OECD Pillar One agreement,” ranking member Kevin Brady (R-Texas) and Rep. Kevin Hern (R-Okla.) wrote Thursday to Treasury Secretary Janet Yellen.
As part of last year’s global deal, nearly 140 countries agreed on a plan to reallocate a portion of the largest multinationals’ profits to countries where they make sales. Governments are still negotiating key details of the plan, known as Pillar One.
Treasury officials have said they expect Pillar One to have a roughly revenue-neutral effect on the US, but since last year Republican lawmakers have been pushing for more detail on how the US will be affected by the deal, including in letters to the department.
Brady and Hern also filed a resolution of inquiry directing Treasury to provide the information in July, but the resolution was voted down by the Ways and Means Committee last month.
