G-7 Tax Deal Could Face Senate Hurdle as It Affects US Firms the Most

Leaders of the G-7 pose for a group photo overlooking the beach at the Carbis Bay Hotel in Carbis Bay, St. Ives, Cornwall, England, on June 11, 2021. Patrick Semansky/Pool/AP Photo

WASHINGTON—The Group of Seven (G-7) leaders rallied around a global tax deal last week in an effort to make big multinational companies pay their fair share of taxes. The agreement was met with swift opposition from Republicans, who called it a “tax surrender” for the United States.

Studies show that U.S. companies are likely to see the greatest impact on their taxes under the new proposal.