Page 16 - நிறைய குடியரசுக் கட்சியினர் இல் காங்கிரஸ் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Washington United States Treasury Secretary Janet Yellen on Monday urged the adoption of a minimum global corporate income tax, an effort to at least partially offset any disadvantages that might arise from the Biden administration’s proposed increase in the U.S. corporate tax rate. Citing a “30-year race to the bottom” in which countries have slashed corporate tax rates in an effort to attract multinational businesses, Ms. Yellen said the Biden administration would work with other advanced economies in the Group of 20 to set a minimum. “Competitiveness is about more than how U.S.-headquartered companies fare against other companies in global merger and acquisition bids,” Ms. Yellen said in a virtual speech 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.”

United statesWorld bankDistrict of columbiaWhite housePat toomeyAlan auerbachJoe bidenInternational monetary fundMany republicans in congressOrganization for economic cooperationChicago council on global affairsUniversity of california at berkeleyTax foundationStates treasury secretary janet yellenChicago councilEconomic cooperation