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iPolitics AM: Boosting universal pharmacare, ending for-profit long-term care top New Democrat agenda today

iPolitics AM: Boosting universal pharmacare, ending for-profit long-term care top New Democrat agenda today
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Yellen in call with Germany s Scholz committed to U S participation in OECD tax talks | WSAU News/Talk 550 AM · 99 9 FM

By Syndicated Content Jan 27, 2021 5:47 PM WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen and German Finance Minister Olaf Scholz on Wednesday stressed the importance of U.S.-German and transatlantic ties - and the need to work together - in their first phone call, the U.S. Treasury said in a statement. The two officials agreed to collaborate to end the coronavirus pandemic, support a strong and sustained global economic recovery, fight income inequality, and forcefully address the threat of climate change, Treasury said. Yellen also pledged active U.S. participation in ongoing discussions on international taxation under the leadership of the Organization of Economic Cooperation and Development, with an eye to forging a timely international accord, the statement said.

Yellen in call with Germany s Scholz committed to U S participation in OECD tax talks

By Reuters Staff 1 Min Read FILE PHOTO: U.S. outgoing Federal Reserve Chair Janet Yellen holds a news conference after a two-day Federal Open Market Committee (FOMC) meeting in Washington, U.S. December 13, 2017. REUTERS/Jonathan Ernst/File Photo WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen and German Finance Minister Olaf Scholz on Wednesday stressed the importance of U.S.-German and transatlantic ties - and the need to work together - in their first phone call, the U.S. Treasury said in a statement. The two officials agreed to collaborate to end the coronavirus pandemic, support a strong and sustained global economic recovery, fight income inequality, and “forcefully address the threat of climate change,” Treasury said.

The US and the next leader of the OECD

Although it may not regularly make headlines, the Organisation of Economic Cooperation and Development (OECD) is an important multilateral institution. With its standard-setting capability, the organisation’s 300 committees and 3300-member secretariat have carved unique policy niches on trade, anti-corruption efforts, international taxes, digital transformation, artificial intelligence, and official development assistance through the Development Assistance Committee. With 38 members that represent almost two-thirds of global economic activity, the OECD is the world’s most elite club of free-market economies. This exclusivity has helped the OECD avoid the modern expansion fatigue of other multilateral organisations, such as NATO, whose “open door policy” has hindered its ability to effectively influence its member nations.

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