Wall Street Journal: “U.S. companies that enjoyed single-digit tax rates in some foreign countries now must pay at least 15% in each. But even though Treasury officials were crucial in forging the international accord and President Biden has pushed to implement it, Congress hasn’t changed U.S. tax law to conform to it.
”“Republicans generally oppose the global deal, contending that Biden administration negotiators gave away too much of the U.S. tax base. So for now, the U.S. isn’t directly collecting any money from domestic or foreign companies because of the deal.”