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Floor Speech

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Mr. CRAPO. Res. 95, the resolution seeks to overturn a Trump administration IRS notice providing simplified guidance on applying the corporate alternative minimum tax to partnerships. The corporate alternative minimum tax is a fundamentally flawed, Democrat-enacted book minimum tax. Not one single Republican voted for it.

As Republicans predicted, the book minimum tax has proven to be highly complex and burdensome. Even President Biden's own Treasury Department acknowledged its dizzying complexity. They waived penalties related to it for 2 full years due to the ``continued challenges'' of compliance.

The Trump IRS notice at issue today reduces compliance burdens, making it easier for businesses to calculate their liability. Democrats gave Treasury extremely broad discretion to implement the tax, including on complex issues like how it should apply to partnerships. The notice is within the Treasury's authority, but the Democrats dislike the outcome.

Approving this resolution would revive ambiguity, inviting audits, litigation, and significant compliance costs. Therefore, I register my objection when the unanimous consent request is made.

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