U.S. Reps. Ron Estes (R-KS) and Carol Miller (R-WV) have joined House Ways and Means Committee members to examine the Organization for Economic Co-operation and Development (OECD) tax deal’s economic impact.
The legislators signed off on a letter to Treasury Secretary Janet Yellen regarding the inquiry.
“We write to you to express our continued frustration and grave concerns with the Biden Administration’s unprecedented and anti-America concessions throughout the OECD global tax negotiations,” the legislators wrote. “Rather than consult with Congress, you have chosen to go it alone, undermining American sovereignty and making commitments that you have no authority to effectuate. It is unacceptable that the Treasury Department has repeatedly failed to consult with Congress on a matter that puts at risk jobs and U.S. tax revenues.”
The lawmakers said in the letter that the Biden administration’s actions undermine the principles of transparency and democratic governance.
“To be abundantly clear: Congress controls tax policy, not the Biden Administration,” Miller said. ‘The current tax negotiations with the OECD will effectively send American tax dollars to fund global socialist programs, instead of serving our families and funding our military. We will continue to demand Secretary Yellen stops conceding to unelected bureaucrats and undermining Congressional authority.”
The lawmakers assert it is imperative the Treasury Department provide Congress with previously and repeatedly requested revenue and economic impact data.
“The future of American businesses and our economy hangs in the balance and decisive action is required to protect the livelihoods of millions of hard working Americans,” the legislators concluded.