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Biden Applauds Global Tax Deal, Urges U.S. Corporate Tax Reform

July 1, 2021, 4:39 PM

President Biden says the endorsement of a global minimum tax rate by 130 countries “marks an important step in moving the global economy forward to be more equitable for workers and middle class families.”

  • “With a global minimum tax in place, multinational corporations will no longer be able to pit countries against one another in a bid to push tax rates down and protect their profits at the expense of public revenue,” Biden says in statement
  • Biden also says building on the agreement will require action at home and that it is imperative to reform U.S. corporate tax laws
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