Top Treasury Official Argues for US to Adopt Global Minimum Tax (Correct)

The Treasury Department’s top negotiator to the OECD made the case Friday for the US adopting the global minimum tax rules because it would benefit both the country and US-owned companies.

Acting Deputy Assistant Secretary for International Affairs at the Treasury Scott Levine said the US supports modification of the global low-tax income rule, known as GILTI, consistent with the Greenbook proposal.

The Biden administration proposed adopting the global minimum tax rules in its Greenbook—an annual wishlist of tax policies for the coming year. In addition, the administration’s reformed GILTI regime described in the proposal would double this rate ...