Tue. Oct 19th, 2021

Treasury Secretary Janet Yellen said she believes Congress will likely pass a bill to implement the global corporate minimum tax agreed by 136 countries last week. Speaking to ABC News on Sunday, Yellen said that a proposal to include the United States in the global corporate minimum tax plan would likely be part of the $3.5 trillion budget reconciliation plan that Democrats are trying to ram through Congress. “Yes. I am confident that what we need to do to come into compliance with the minimum tax will be included in a reconciliation package,” Yellen said on Sunday. “I hope that we, that it will be passed and we will be able to reassure the world that the United States will do its part.” On Oct. 8, more than 100 countries agreed to set a minimum global tax rate of 15 percent for big corporations and made it harder for such businesses to …

Author: Jack Phillips
Source: https://www.theepochtimes.com/biden-treasury-secretary-believes-congress-will-pass-global-minimum-tax_4041373.html

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