Treasury Secretary Janet Yellen will reportedly call for a global minimum corporate tax rate to prevent U.S. companies from relocating offshore in response to the Biden administration’s forthcoming tax hikes, Axios reported on Monday.
The news outlet made clear that “by trying to convince other countries to impose a global minimum tax, Yellen is acknowledging the risks to the American economy if it acts alone in raising corporate rates.”
The administration has proposed initiating the largest tax hike in almost 30 years to pay for President Biden’s more than $2 trillion American Jobs Act — a bill slated to fund America’s “infrastructure” but that also finances major policy progressive policy initiatives such as climate research, green energy, and free education in addition to highways, bridges, and roads.
The tax changes include raising the country’s corporate tax rate from 21% to 28%, a move that conservatives and moderate congressional Democrats have argued could be devastating for the American middle class.
Frigg’in Idiot Biden !!!! Like other counties would do that !!!! LOL
That clueless man will totally destroy our country…but, harris will be the final twist of the knife when biden is removed due to his obvious dementia.
It is part of setting up the new world order.
That’s slavery
George Soros is in charge folks!
Get the Democrats to Leave Our Country instead of our Businesses !!!!! SOLVED