A report by EY’s Quantitative Economics and Statistics (QUEST) practice finds that, even if the United States does not adopt the OECD’s BEPS 2.0 Pillar Two proposal, widespread adoption by other jurisdictions would increase the corporate tax liability of in-scope US multinational enterprises (MNEs) with operations both inside and outside the United States by 18%.Widespread adoption of Pillar Two is also found to have significant impacts on the US economy, with the potential to reduce domestic MNE jobs by roughly 370,000 and annual domestic MNE investment by almost $22 billion.As the debate on Pillar Two and the OECD’s BEPS project...