Meta’s $16 Billion Tax Hit Shows Biden-Era Minimum Tax Still Has Teeth

Meta’s $16 billion tax charge shows that despite new corporate breaks, the Biden-era minimum tax remains one of the few guardrails keeping effective corporate tax rates from disappearing entirely.

Meta Platforms Inc. reported that its quarterly income dropped by $16 billion due to income taxes—an outcome many headlines wrongly attribute to Trump-era tax cuts.

The real culprit is the Corporate Alternative Minimum Tax (CAMT), a 2022 reform from the Biden administration designed to ensure large corporations pay at least 15% of their book income.

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