A stalemate in Washington could jeopardize a significant tax deal that was meticulously negotiated among 140 countries over nearly a decade. The United States' failure to ratify the deal may trigger a tax war among wealthy nations, impacting tech giants like Google, Apple, Meta, and Amazon.
The Organisation for Economic Co-operation and Development (OECD) worked tirelessly to broker an agreement among member countries to close tax loopholes for large multinational corporations, potentially recouping up to $240 billion annually in lost tax revenue.
