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Two ways to fix the tax code and bring down inflation

·3 min read
Two ways to fix the tax code and bring down inflation

In response, Congress can’t miss this chance—and should focus on two proposals currently under debate: a country-by-country technical fix to the global intangible low tax income (GILTI); and, a corporate alternative minimum tax (CAMT). What’s really at issue is a longstanding problem: multinational corporations continue to enjoy the benefits of profit-shifting. Essentially, by transferring profits to tax-haven nations, multinationals face an effective U.S. corporate tax rate below 10%.