Why the United States Should Support International Tax Cooperation: The Case for a U.N. Framework Convention on Tax
The existing global tax system deprives countries, including the United States, of vital revenue that could be used to deliver on urgent priorities and lower inequality. The world loses an estimated $286 billion annually through corporate tax abuse, with the U.S. alone losing around $96 billion, or about one-third of this total. Although the U.S. stands to benefit from global tax reforms, the Trump administration has undermined international efforts. Countries are currently negotiating a new Framework Convention on International Tax Cooperation, which is an opportunity to address tax abuse and create a fairer tax system. Support for these negotiations will help ensure the interests of the ultra-wealthy are not put before those of ordinary people.