It’s an idea that has been debated widely across global capitals: impose the same minimum corporate tax rate all over the world to prevent companies from shopping around for the country that can offer the smallest tax bill.
Now, it has a powerful new adherent. Treasury Secretary Janet Yellen on Monday expressed support for a minimum tax rate, providing the vital backing of the U.S. government.
Yellen, in a speech, said a minimum global tax rate would stop what she described as a “30-year race to the bottom” that has allowed big corporations to avoid contributing fully to vital national needs.
Author(s): Scott Horsley
Publication Date: 5 April 2021
Publication Site: All Things Considered on NPR