Brady: Mnuchin is Right, Now Is Not the Time for Countries to Impose New Digital Taxes

“I agree with Secretary Mnuchin that this is not the time to be imposing a punitive new tax on mainly U.S. companies--which also erodes America’s tax base. . . "

Texas Insider Report: WASHINGTON, D.C. –The top Republican on the House Ways and Means Committee Kevin Brady (R-TX) released the following statement after Treasury Secretary Steven Mnuchin sent a letter to four European finance ministers warning them not to press forward with plans for new digital taxes: 

“I agree with Secretary Mnuchin that this is not the time to be imposing a punitive new tax on mainly U.S. companies--which also erodes America’s tax base, making it more difficult to meet the long-term needs of our country as we recover from COVID-19. 

"Members of Congress will continue working with the Administration to ensure that the OECD is realistic and open to our ideas on how to move forward. It would be a mistake for European governments to impose taxes unilaterally that target American companies.”