Yellen Passes Deal-Making Test on Taxes, With Long Road Ahead

Janet Yellen proved her bona fides as a political deal-maker by leading the world’s richest economies to an agreement on global taxes that had eluded negotiators for nearly a decade.

Yet what was hailed as a victory at the Group of Seven for President Joe Biden’s Treasury secretary may not carry far in Washington, where winning lawmakers’ support for the administration’s vast plans for tax and spending increases will be a far tougher challenge.

The G-7 finance ministers on Saturday sealed a landmark deal in London, paving the way to help countries collect more taxes from big companies and ...