The Story Behind Senate Tax Treaties Progress

Sen. Rand Paul spent years blocking tax treaties that multinational corporations rely on. But this summer, Senate Majority Leader Mitch McConnell changed that.

McConnell’s July move to force votes on the treaty updates came after lengthy negotiations between Paul (R-Ky.) and the Treasury Department over his privacy concerns.

“I’m a patient man, but my patience is not inexhaustible,” McConnell (R-Ky.) said in a Senate floor speech.

A series of factors went into McConnell’s decision. Among them: North American Stainless, one of Kentucky’s biggest manufacturing companies, was staring down a $35 million Spanish tax bill if that country’s treaty update didn’t…

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