The U.S. Treasury Department has proposed new rules to implement a 15% corporate alternative minimum tax (CAMT) aimed at large corporations making over $1 billion in annual profits, which currently pay an average tax rate of just 2.6%. This initiative, part of the Inflation Reduction Act, seeks to curb tax avoidance strategies that allow profitable companies to significantly reduce their tax liabilities. Treasury Secretary Janet Yellen emphasized that the proposed tax would level the playing field for small businesses lacking access to sophisticated tax strategies. The Treasury estimates that this new tax could generate around $250 billion in revenue over the next decade, with $20 billion expected in the first year alone. However, the exact corporations subject to this tax have not been disclosed, and the public can comment on the proposals until December. As the 2024 election approaches, the corporate tax landscape is likely to become a central topic of debate, reflecting contrasting views on revenue generation between political parties.