Alliance For Competitive Taxation: Agreement Between Trump Administration, G7 is a “major Victory” that “preserves American Sovereignty” and Restores “$122 Billion In Lost Tax Revenue”

The Alliance for Competitive Taxation (ACT), a coalition of leading American companies advocating for pro-growth, competitive tax policy, today issued the following statement from former House Ways and Means Committee Chairman Kevin Brady, spokesperson for ACT, in response to Secretary of the Treasury Scott Bessent announcing a forthcoming international tax agreement:

“The agreement between the Trump administration and the G7 to protect U.S. companies from egregious foreign taxation is a major victory for American workers, American businesses, and the American economy. Not only does this deal preserve sovereignty over our tax policy, but it also restores $122 billion in lost tax revenue to our tax base. Make no mistake: this is a significant economic victory. 

“We applaud President Trump, Secretary Bessent, and the administration for prioritizing American interests throughout negotiations. We also applaud Senate Finance Committee Chairman Mike Crapo (R-Idaho) and House Ways and Means Chairman Jason Smith (R-Missouri) for pledging to take immediate action should other nations not adhere to the agreement.

“Thanks to this leadership, America has once again sent a strong signal to the world that it will stand up for itself on the global economic stage.”