Yellen Calls for ‘Global Minimum Corporate Tax’ to Stop the ‘Race to the Bottom’

Yellen Another consequence of ░░░░░░░░ interconnected world has been ░░░░░░░░ 30 year race to ░░░░░░░░ bottom on corporate tax ░░░░░░░░ Competitiveness is about more ░░░░░░░░ how U S headquartered ░░░░░░░░ fare against other companies ░░░░░░░░ global merger and acquisition ░░░░░░░░ It s about making ░░░░░░░░ that governments have stable ░░░░░░░░ systems that raise sufficient ░░░░░░░░ to invest in essential ░░░░░░░░ goods and respond to ░░░░░░░░ and that all citizens ░░░░░░░░ share the burden of ░░░░░░░░ government President Biden s ░░░░░░░░ announced last week call ░░░░░░░░ bold domestic action including ░░░░░░░░ raise the U S ░░░░░░░░ tax rate and renewed ░░░░░░░░ engagement recognizing that it ░░░░░░░░ important to work with ░░░░░░░░ countries to end the ░░░░░░░░ of tax competition and ░░░░░░░░ tax base erosion We ░░░░░░░░ working with G20 nations ░░░░░░░░ agree to a global ░░░░░░░░ corporate tax rate that ░░░░░░░░ stop the race to ░░░░░░░░ bottom Together we can ░░░░░░░░ a global minimum tax ░░░░░░░░ make sure the global ░░░░░░░░ thrives based on a ░░░░░░░░ level playing field in ░░░░░░░░ taxation of multinational corporations ░░░░░░░░ spurs innovation growth and ░░░░░░░░