President Biden and other leaders of the Group of 20 major economies endorsed a global minimum corporate tax on Saturday at the start of a two-day summit in Rome, reports The Wall Street Journal.
The landmark agreement seeks to prevent major companies such as Apple and Bristol Myers Squibb from moving profits and jobs across borders to avoid taxes. A deal has been in the works for years, but Biden's Treasury Department made a sustained push to finalize it at the summit, reports The New York Times.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
5 Post Office-approved cartoons about mail-in votingCartoons Artists take on reverse logic, Putin's election advice, and more
-
The battle of the weight-loss drugsTalking Point Can Novo Nordisk and Eli Lilly regain their former stock market glory? A lot is riding on next year's pills
-
Sudoku medium: August 24, 2025The Week's daily medium sudoku puzzle
-
Judge: Trump's US attorney in NJ serving unlawfullySpeed Read The appointment of Trump's former personal defense lawyer, Alina Habba, as acting US attorney in New Jersey was ruled 'unlawful'
-
Third judge rejects DOJ's Epstein records requestSpeed Read Judge Richard Berman was the third and final federal judge to reject DOJ petitions to unseal Epstein-related grand jury material
-
Texas OKs gerrymander sought by TrumpSpeed Read The House approved a new congressional map aimed at flipping Democratic-held seats to Republican control
-
Israel starts Gaza assault, approves West Bank planSpeed Read Israel forces pushed into the outskirts of Gaza City and Netanyahu's government gave approval for a settlement to cut the occupied Palestinian territory in two
-
Court says labor board's structure unconstitutionalSpeed Read The ruling has broad implications for labor rights enforcement in Texas, Louisiana and Mississippi
-
Feds seek harsh charges in DC arrests, except for riflesSpeed Read The DOJ said 465 arrests had been made in D.C. since Trump federalized law enforcement there two weeks ago
-
Inflation derailed Biden. Is Trump next?Today's Big Question 'Financial anxiety' rises among voters
-
Trump taps Missouri AG to help lead FBISpeed Read Missouri Attorney General Andrew Bailey has been appointed FBI co-deputy director, alongside Dan Bongino
