{"id":389166,"date":"2021-04-05T13:58:22","date_gmt":"2021-04-05T17:58:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=389166"},"modified":"2021-04-05T13:58:24","modified_gmt":"2021-04-05T17:58:24","slug":"bidens-treasury-secretary-calls-for-globalist-corporate-tax-agreement-looking-to-end-tax-competition","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-treasury-secretary-calls-for-globalist-corporate-tax-agreement-looking-to-end-tax-competition\/","title":{"rendered":"Biden\u2019s Treasury Secretary Calls For Globalist Corporate Tax Agreement, Looking To End \u2018Tax Competition\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidens-treasury-secretary-calls-for-globalist-corporate-tax-agreement-looking-to-end-tax-competition%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=389166&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/04\/fb_image-259.jpeg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>On Monday, Treasury Secretary Janet Yellen argued in favor of a global minimum tax rate for corporations, regardless of their location, in an apparent bid to counter the impact of companies moving overseas in response to the Biden administration\u2019s calls to increase corporation tax.<\/span><\/p>\n<p><span>\u201cMs. Yellen, in a speech to the Chicago Council on Global Affairs, called for global coordination on an international tax rate that would apply to multinational corporations regardless of where they locate their headquarters,\u201d the <\/span><a href=\"https:\/\/www.nytimes.com\/2021\/04\/05\/business\/yellen-global-minimum-corporate-tax-rate.html?smtyp=cur&amp;smid=tw-nytimes\"><span>New York Times<\/span><\/a><span> reported. \u201cSuch a global tax could help prevent the type of \u2018race to the bottom\u2019 that has been underway, Ms. Yellen said, referring to countries trying to outdo one another by lowering tax rates in order to attract business.\u201d<\/span><\/p>\n<p><span>This call for an international agreement comes as the Biden administration is looking to push through their latest legislative agenda \u2014 a massive $2 trillion infrastructure plan which President Joe Biden <\/span><a href=\"https:\/\/www.dailywire.com\/news\/biden-unveils-massive-infrastructure-plan-calls-it-once-in-a-generation-investment\"><span>celebrated<\/span><\/a><span> as the largest \u201cinvestment in American jobs\u201d since the second world war.<\/span><\/p>\n<p><span>\u201cThe plan, which would be Biden\u2019s second major legislative initiative, would allocate $621 billion for transportation-related infrastructure, $300 billion for drinking water-related infrastructure, broadband and electric grids, and $300 billion for affordable housing and upgrading schools, according to CNBC News. Furthermore, $400 billion would reportedly go toward care for elderly and disabled Americans, and $580 billion would be used for domestic manufacturing, job training, research and development,\u201d reported the Daily Wire.<\/span><\/p>\n<p><span>\u201cCompetitiveness is about more than how U.S.-headquartered companies fare against other companies in global merger and acquisition bids,\u201d Ms. Yellen said. \u201cIt is about making sure that governments have stable tax systems that raise sufficient revenue to invest in essential public goods and respond to crises, and that all citizens fairly share the burden of financing government.\u201d<\/span><\/p>\n<p><span>Yellen also appeared to rebuke the supposed economic impacts of \u201cAmerica first,\u201d saying that \u201cOver the last four years, we have seen firsthand what happens when America steps back from the global stage,\u201d and that \u201cAmerica first must never mean America alone.\u201d<\/span><\/p>\n<p><span>\u201cThe Organization for Economic Cooperation and Development, in coordination with the United States, has been working to develop a new international tax architecture that would include a global minimum tax rate for multinational corporations as part of its effort to curtail profit shifting and tax base erosion,\u201d the Times reported. \u201cMs. Yellen said she is working with her counterparts in the Group of 20 advanced nations on changes to the global tax system that will help prevent businesses from shifting profits to low-tax jurisdictions.\u201d<\/span><\/p>\n<p><span>\u201cPresident Biden\u2019s proposals announced last week call for bold domestic action, including to raise the U.S. minimum tax rate, and renewed international engagement, recognizing that it is important to work with other countries to end the pressures of tax competition and corporate tax base erosion,\u201d Ms. Yellen said. \u201cWe are working with G20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom.\u201d<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Monday, Treasury Secretary Janet Yellen argued in favor of a global minimum tax rate for corporations, regardless of their location, in an apparent bid to counter the impact of &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2311676,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/04\/fb_image-259.jpeg","fifu_image_alt":"Biden\u2019s Treasury Secretary Calls For Globalist Corporate Tax Agreement, Looking To End \u2018Tax Competition\u2019","footnotes":""},"categories":[],"tags":[],"class_list":["post-389166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/04\/fb_image-259.jpeg","fifu_image_alt":"Biden\u2019s Treasury Secretary Calls For Globalist Corporate Tax Agreement, Looking To End \u2018Tax Competition\u2019","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/389166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=389166"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/389166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2311676"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=389166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=389166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=389166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}