Yellen calls for global minimum corporate tax rate

U.S. Treasury Secretary Janet Yellen called for a global minimum corporate tax rate.

Her comments came as the Biden administration faces opposition to the raising of corporate taxes to partially fund the proposed $2.3 trillion infrastructure bill.

“Competitiveness is about more than how U.S.-headquartered companies fare against other companies in global merger and acquisition bids,” Yellen said in remarks to the Chicago Council on Global Affairs. “It is about making sure that governments have stable tax systems that raise sufficient revenue to invest in essential public goods and respond to crises, and that all citizens fairly share the burden of financing government.”

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