FOR IMMEDIATE RELEASE:
September 5, 2024
Known as “Intervenors,” California Business Roundtable, Kentucky Association of
Manufacturers; Arkansas, Kansas Chamber of Commerce Stand To Be Impacted By Proposed 15 Percent Global Minimum Tax
Des Moines –The American Free Enterprise Chamber of Commerce (AmFree) today
proudly announced that four U.S.-based entities have joined their ongoing legal action
in the Belgian Constitutional Court challenging the European Union (EU) Undertaxed
Profits Rule of Pillar 2, a law supported by the Biden-Harris Administration imposing a
new 15 percent global minimum tax rate on U.S. companies with operations overseas to
be collected by foreign countries.
Known officially as “intervenors,” these interested third parties have multinational
members with operations abroad and share AmFree’s concern about the threat to
America’s sovereignty by an international global minimum tax. They bring an additional
voice of concern to the global stage on how damaging this policy is to American
industry, and they each have members who will suffer from having to pay additional
taxes – not to secure domestic tranquility, promote the general welfare, or provide for
the common defense, but to line the coffers of foreign treasuries.
The four initial intervenors include:
Arkansas Chamber of Commerce
California Business Roundtable
Kansas Chamber of Commerce
Kentucky Association of Manufacturers
“We are thrilled to have these intervenors join our fight against Pillar 2’s threat to
America’s sovereignty and the significant harm of an international global minimum tax
undermining the will of our voters,” said Machalagh Carr, Director of AmFree’s Center
for Legal Action. “By allowing foreign nations to double tax American industry, the
Biden-Harris administration shamefully surrendered U.S. sovereignty to European
regulators, negatively impacting job creators everywhere. Each of these intervenors
wants and deserves a seat at the table establishing the tax policies that govern their
members, and thanks to the Biden-Harris Administration, they do not. AmFree is proud
to have the backing of these patriots, and we will never stop pushing back against
misguided attempts to allow foreign governments to impose their will on American
industry.”
The new global minimum tax was adopted by the EU in October 2021 after an
agreement reached by 137 members of the Organisation for Economic Co-operation
and Development’s (OECD), an international and intergovernmental economic forum.
Treasury Secretary Janet Yellen, who represented the Biden-Harris Administration in
the negotiations, supported Pillar 2 as benefitting “the entire world.” The bipartisan Joint
Committee on Taxation has estimated that a global minimum tax could cost American
companies $122 billion in revenue to foreign taxes.
In July 2024, AmFree filed a legal action in the Belgian Constitutional Court challenging
Pillar 2. AmFree is awaiting the Belgian government’s response and upon reviewing
AmFree’s legal action, the Belgian Court can refer the case to the Court of Justice of the
European Union to determine Pillar 2’s validity under European law.
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About AmFree Chamber
The American Free Enterprise Chamber of Commerce (AmFree Chamber) is a trade
organization representing American businesses of all sizes. It is dedicated to advancing
the principles of free enterprise, free markets, limited government, and American
leadership globally. AmFree Chamber is chaired by the Honorable Terry E. Branstad,
who previously served as Ambassador to China and was the longest serving Governor
in American history.
AmFree Chamber’s Center for Legal Action focuses on combatting administrative
overregulation both through agency proceedings and in litigation and is chaired by two-
time former U.S. Attorney General William P. Barr.
AmFree Chamber has members representing dozens of industries and from across the
United States. Since its founding in 2022, AmFree Chamber has aggressively
represented its members’ interests through legislative outreach, regulatory comments,
and judicial briefing.
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