Murphy Statement on Biden Administration’s Proposed Global Minimum Corporate Tax Rate

Washington, D.C. – Congressman Greg Murphy, M.D. (NC-03) released the following statement after the Department of the Treasury called for a global minimum corporate tax rate of 15%:

"The Biden Administration's proposal of a minimum global tax rate is a naked attempt by Big Government Democrats to collude with foreign countries for the sole purpose of trapping successful companies in high tax regimes. They cheer such global minimums because they offer leverage to jack corporate rates up here at home, soaking our US business owners for as much as possible, and all to finance the trillions upon trillions needed for Far Left fantasies like the Green New Deal.

"Global taxes imply global governance, and global governance implies a threat to the very core of our national identity and sovereignty as Americans. We founded our nation in rebellion against arbitrary taxes enacted by elites thousands of miles away, and we fought a Cold War to keep the specter of global communism at bay. To now be pushing global minimum tax regimes to enact maximum taxes is anathema to the American idea – and 'Woke' companies won't end up paying those taxes; the American people will.

"The Democratic Party may be okay with taking cues from the Chinese Communist Party to 'Build Back Better' and pushing for world government, but the people of eastern North Carolina and citizens of this nation won't stand for it.

"I call on the Biden administration, and Treasury Secretary Janet Yellen, to abandon their push for global tax regimes that undermine our sovereignty, and to end their pursuit of this radical world government that sells out the American people, much to the satisfaction of the CCP."