OECD funding could be in play, as US congress turns attention to federal budget

Suspending the United States’ share of funding for the OECD could play into the BEPS 2.0 negotiations, as highlighted by John Gimigliano from KPMG’s Washington National Tax team.

Taxpayers will be digesting for some time the US$4.5 trillion tax title of the 940-page so-called 'One Big Beautiful Bill' (OBBB), signed by the United States (US) President on 4 July 2025. The bill left the corporate rate untouched, but it repealed or phased out the IRA energy credits, reformed somewhat the international tax system, and renewed and extended various business tax preferences, such as the expensing of R&D costs, the lower limit on the deduction for interest expense, bonus ...

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Authors: John Gimigliano

Published Date: 15 July 2025