Yellen’s Grand Global Corporate Tax Plan Risks Congress Flop (1)

Treasury Secretary Janet Yellen’s success in securing the biggest global corporate-tax reform in decades risks flopping in her own country’s legislature, potentially sowing the seeds for renewed international tensions in coming years.

Heralded as a “historic agreement” when the two-part deal was reached last October, the framework would set a global 15% minimum tax rate and rewrite the rules for how countries divvy up taxing corporate profits.

Until the Russia-Ukraine war brought a big set of new challenges, it was the biggest win of Yellen’s tenure. But part of the pact between nearly 140 countries may never ...