Yellen Aims to Win Support for Global Tax Deal - The New York Times - 0 views
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The Biden administration is trying to persuade other nations to approve a global minimum tax as it works to curb profit shifting and raise corporate taxes in the United States.
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Such a pact has been elusive for years, as countries like Ireland sought to keep taxes as low as possible in order to attract global investment. But the Biden administration has made securing a global minimum tax a priority as it looks to raise corporate taxes domestically to help pay for a sweeping expansion of the nation’s infrastructure.
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She scrapped a Trump administration proposal that would have essentially allowed American technology companies to opt out of new global digital tax rules. And last month, the Treasury Department said it would support a global minimum tax of at least 15 percent, which was lower than the 21 percent that other countries believed the United States was demanding.