There is widespread agreement, across the political spectrum, that the gaming of the tax code by multinational corporations is a problem. When profits and jobs are shipped offshore, we not only harm the U.S. economy, we fuel a tax haven industry that drains wealth around the world. We seek to fix the problem of large, well-connected interests gaming the tax system.
New disclosure requirements show that huge American corporations lowered their tax bills by billions of dollars through the use of tax havens in 2025, while U.S. anti-abuse rules struggled to keep up.
Though the establishment of a new “side-by-side” regime exempting U.S. corporations is a regrettable and unnecessary setback, the OECD’s global minimum tax remains a generational leap forward in the fight against corporate tax avoidance.
Today’s announcement by the OECD that U.S.-headquartered corporations will continue to be exempt from key elements of the global minimum tax regime represents a regrettable setback for the global fight against corporate tax avoidance.
Bloomberg Tax published an op-ed from FACT’s Zorka Milin warning against the administration’s recent efforts to exempt large companies from the corporate alternative minimum tax.
From the op-ed: “The corporate alternative minimum tax, or CAMT, is at risk of stealth repeal as business interests lobby for “relief” from the Treasury Department—unlegislated, unaccounted for, and likely unconstitutional tax cuts. Treasury shouldn’t take the bait.”
Read FACT executive director Ian Gary’s new op-ed for the Inter Press Service on the need for global tax cooperation to effectively fund a robust response to the climate crisis.
FACT’s latest report analyzes the tax disclosures of 11 U.S. oil and gas multinational companies, and calls for the elimination of harmful subsidies for extraction abroad.
