Yellen Global Tax
(Washington, DC) — Treasury Secretary Janet Yellen is pushing for a minimum tax on multinational corporations to “level the playing field” on a global scale. During her first major speech, Yellen said the global tax will make sure the global economy “spurs innovation, growth, and prosperity.” She said the Biden administration wants to end a global “race-to-the-bottom” on corporate tax rates. The speech comes as the World Bank and International Monetary Fund are launching their spring meetings this week.
Candace Gordon Copyright © 2021 TTWN Media Networks Inc
Manchin Won’t Support Raising Corporate Tax Rate To 28-Percent
(Washington, DC) — Senator Joe Manchin does not support raising the corporate tax rate to 28-percent. That’s part of President Biden’s more than two-trillion-dollar infrastructure plan. Manchin said 28-percent is too much. He would support raising it to 25-percent. The moderate West Virginia Democrat is a key swing vote in the tightly-divided Senate. The corporate tax rate was lowered to 21-percent during the prior Trump administration.
Terry Moore Copyright © 2021 TTWN Media Networks Inc.