The Week (US)

Globalizat­ion: U.S. backs minimum corporate tax

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The Biden administra­tion officially proposed a minimum global tax of 15 percent on multinatio­nal corporatio­ns, said Alan Rappeport in The New York Times. The Treasury Department has been holding meetings this week with 24 countries, and “the White House is pushing to reach an agreement this summer.” The White House wants to raise the U.S. domestic corporate tax rate and hopes to eliminate incentives for companies to move overseas. However, other countries have concerns that “hiking their rates will deter investment.”

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