The United States is "working with G20 nations to agree to a global minimum corporate tax rate," Treasury Secretary Janet Yellen said Monday during a virtual speech before the Chicago Council on Global Affairs.
Yellen said countries have been engaged in a "30-year race to the bottom" on corporate rates, arguing that ending the competition will bring about a thriving, innovative global economy "based on a more level playing field in the taxation of multinational corporations."
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.
-
The week's best photosIn Pictures Firing shells, burning ballots, and more
-
Damian Barr shares his favourite booksThe Week Recommends The writer and broadcaster picks works by Alice Walker, Elif Shafak and others
-
The Great Mughals: a 'treasure trove' of an exhibitionThe Week Recommends The V&A's new show is 'spell-binding'
-
US charges Indian tycoon with bribery, fraudSpeed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
