U.S. Representative Peter DeFazio (D-OR) has announced the introduction of the Per-Country Minimum Act (Bill H.R. 6015), which would amend the Internal Revenue Code to increase the tax on certain global intangible income. The measures of the Bill would provide for: A reduction in the deduction for global intangible low-taxed income from 50% to 37.5% for taxable years before 2026 and reduce the deduction from 37.5% to 21.875% for taxable years after 2025; The repeal of tax-free deemed return on investments through several amendments to Section 951A (Global Intangible Low-Taxed Income Included in Gross Income of United States shareholders) of...