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. --- INTRODUCTION The House Ways and Means Committee has scheduled a public hearing for March 7, 2024, titled, "OECD Pillar 1: Ensuring the Biden Administration Puts Americans First." This document, prepared by the staff of the Joint Committee on Taxation, describes legal and economic...