Bloomberg Tax
March 9, 2023, 5:00 PMUpdated: March 9, 2023, 10:53 PM

Biden Proposal Tries to Align US With Global Minimum Tax (2)

Michael Rapoport
Michael Rapoport
Senior Reporter, Bloomberg Tax

President Joe Biden is trying again to bring the US in line with a pending global minimum tax, proposing the same kinds of changes to the international regime that he’s pushed in the past.

The White House said Thursday it wants to double the tax rate on US multinationals’ foreign earnings, and make other changes that would align the US with the global minimum tax known as Pillar Two, part of the 2021 global tax agreement that nearly 140 countries have signed.

But the changes, many of which Biden has proposed in budget proposals from years past, aren’t likely to ...

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