How Wyden’s Global Tax Plan Stacks Up With Biden, 2017 Tax Law

Top Senate Democrats have the same broad goals as President Biden in their plan to overhaul the way multinationals are taxed—they want to reboot the international tax system to encourage companies to keep jobs and investment in the U.S.

The Democrats’ plan released Monday and Biden’s corporate tax proposals last week will help raise revenue for the administration’s sweeping $2.25 trillion infrastructure plan. Both mark a sea change from the 2017 tax law, which dramatically lowered corporate tax rates and eased rules in the name of making U.S. companies more competitive globally, but which both Biden and Senate Democrats say ...