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Democrats Ask Yellen to Reject Lobbying on Minimum Corporate Tax

Sept. 29, 2022, 9:00 AM

Congressional Democrats are urging the Treasury Department to ignore appeals by lobbyists to weaken the 15% minimum levy on domestic corporations.

Senators Elizabeth Warren, Angus King, Michael Bennett, and Representative Don Beyer, asked Treasury Secretary Janet Yellen and her staff to take an aggressive stance against companies that seek carve-outs or other modifications to the minimum levy.

“Strong implementation necessitates standing firm against requests to dilute the regulations in such a way as to undermine the clear intent of the law,” the lawmakers wrote in a letter obtained by Bloomberg News.

“The legislation also makes clear ...