The Biggest Casualty of Pillar 2's Bias for State Subsidies? The U.S.
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The Biggest Casualty of Pillar 2's Bias for State Subsidies? The U.S.
Stephen A. Bonovich considers the inexplicable and unexplained decision to design pillar 2 to attack various forms of tax rate competition but ignore state subsidies, even though tax academicians, officials, and practitioners have long concluded that such a design is highly irrational and gives rise to market distortions — the exact opposite of what pillar 2 seeks to achieve. He also looks at the practical implications of ignoring those views for the United States, the EU, and China.
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