US Giants Get a Pass on Global Tax Shake-Up

US-based multinationals just scored a major break. They're now exempt from a worldwide tax agreement that was meant to make everyone pay their fair share, and it's got folks talking about fairness in business.

This all stems from a deal cooked up by the OECD back in 2021. The idea was clear: hit massive cross-border corporations with a 15% minimum tax on profits, wherever in the world they keep their funds. Over 130 countries signed on, aiming to crack down on tax dodges in places like Ireland etc. But fast forward to late 2025, and things changed. After intense negotiations led by US Treasury Secretary Scott Bessent, the agreement got tweaked. Now, American heavyweights, think tech and pharma giants, won't face that extra hit.

For starters, it could keep more jobs and investments stateside, boosting the US economy at a time when things feel shaky. Small businesses struggle with taxes while these corporations effortlessly shift profits across borders.

On the other side, other nations might grumble, feeling shortchanged on revenue they could've used for schools or roads. Bessent argued it protects American interests, especially with rising competition from China.The exemption kicked in officially on January 1, 2026, right here at the start of the year.

Experts say it might save these companies billions, but watch for ripple effects like potential tariffs or new alliances forming without the US.

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