July 2021

President Biden pushed for a global minimum tax rate, and secured a preliminary agreement with 130 countries with the explicit goal to “endorse a global minimum tax rate of at least 15 percent” and “halt the race to the bottom for corporate taxes.”

The Biden administration froze the Abraham Fund, which was a fund to facilitate the implementation of the Abraham Accords among Israel and several Arab nations.

President Biden abused the power of the pen with an Executive Order to preempt Congressional action on antitrust. This order imposes a stunning ban on voluntary non-compete agreements and grants an unprecedented amount of power to the Federal Trade Commission over mergers and acquisitions. In particular, the provisions on prescription drug pricing and transportation represent a gross overreach of executive authority.

The State Department waived sanctions on the illicit Iranian oil trade on the same day that the DOJ announced new charges against a network of Iranian intelligence agents who sought to kidnap an American journalist and bring him to Iran. This gave the world’s biggest state sponsor of terrorism an economic bailout by freeing up billions of dollars that U.S. sanctions had frozen in foreign banks.

The Biden administration cancelled two border barrier contracts, which were already in the process of adding an additional 31 miles of border wall, and called to cancel remaining border wall funding. These actions were taken despite a growing surge of illegal crossings at the southern border.

The Biden DOJ filed suit against the state of Texas to block state troopers from stopping migrants. The suit was brought to prevent state troopers from stopping vehicles carrying migrants on grounds that they may spread COVID-19. Attorney General Merrick Garland argued that such a practice would interfere with the federal government’s disastrous policy of “catch and
release.”