Treasury Secretary Janet Yellen called on world leaders Monday to institute a minimum global corporate tax rate to prevent companies from offshoring.
Nations must unite to ensure corporations do not avoid taxation by moving to countries with lower tax rates, Yellen said in a speech to the Chicago Council on Global Affairs on Monday. Last week, President Joe Biden proposed to increase the U.S. corporate tax rate from 21% to 28% as a way of paying for his $2 trillion infrastructure plan.
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