The U.S. Joint Committee on Taxation has issued a report, Background And Analysis Of The Taxation Of Multinational Enterprises And The Potential Reallocation Of Taxing Rights Under the OECD's Pillar One. The report was issued ahead of a House Ways and Means Tax Subcommittee Hearing on OECD Pillar 1: Ensuring the Biden Administration Puts Americans First.

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INTRODUCTION

The House Ways an…