Democrats in the House and Senate say that new Treasury regulations will allow large corporations to avoid paying the corporate alternative minimum tax (CAMT).

The CAMT is a sweeping tax rule that Democrats passed in the 2022 Inflation Reduction Act and that Republicans largely left in place in their One Big Beautiful Bill Act earlier this summer, to the surprise of many in the accounting field.

But Democrats say that new guidance from the Treasury is undermining the rule and will allow corporations to avoid paying taxes on profits.

“These notices will allow major corporations to circumvent the law by using accounting trickery to pay zero taxes on their massive profits,” Sens. Elizabeth Warren (D-Mass.), Angus King (I-Vt.) and........

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