Wichita Standard

Rep. Ron Estes of Kansas and MP Priti Patel have expressed their opposition to the OECD's international tax proposal through a joint op-ed published in the Daily Telegraph. The article, titled "Britain and America are about to surrender their tax sovereignty," criticizes the global minimum tax initiative under the OECD's Pillar 2 framework.

Estes has been vocal against this plan, having previously written an op-ed in The Hill titled "Yellen is giving away the farm through global tax scheme." He has also questioned Treasury Secretary Janet Yellen during a Ways and Means hearing and introduced legislation aimed at countering what he perceives as unfair taxation on U.S. businesses.

The op-ed argues that the OECD's plan threatens economic freedoms in both the United States and the United Kingdom. It states: "Unfortunately, our leaders are insistent on pressing ahead, and decisions they have made behind closed doors at the OECD have left us in a position where we now face an absurd attack on both our countries’ tax sovereignty."

The authors urge multinational corporations in both countries to voice their concerns about Pillar 2, which they claim would allow foreign nations to impose taxes on companies based on perceived insufficient taxation. They argue that this would negatively impact job creators and innovators.

Estes and Patel also highlight that other countries, including ASEAN and African nations, are beginning to see Pillar 2 as detrimental to their development. They note that these nations recognize potential barriers to growth if Pillar 2 is implemented without its counterpart, Pillar 1.

Despite delays in implementing Pillar 2 by the OECD, Estes and Patel remain critical of its current form. They call for US and UK policymakers to resist ceding tax policy control to foreign governments.

In conclusion, they emphasize abandoning the global minimum tax plan entirely: "The only way to secure US and UK sovereignty is to fully abandon the global minimum tax and UTPR."