{"id":941393,"date":"2021-10-30T11:28:42","date_gmt":"2021-10-30T15:28:42","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=941393"},"modified":"2021-10-30T11:28:45","modified_gmt":"2021-10-30T15:28:45","slug":"g20-leaders-announce-endorsement-of-global-minimum-tax-on-day-one-of-summit","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/g20-leaders-announce-endorsement-of-global-minimum-tax-on-day-one-of-summit\/","title":{"rendered":"G20 Leaders Announce Endorsement Of Global Minimum Tax On Day One Of Summit"},"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\">26<\/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%2Fg20-leaders-announce-endorsement-of-global-minimum-tax-on-day-one-of-summit%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=941393&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--><p>World leaders attending the G20 summit\u2019s first session in Rome Saturday announced their endorsement for a global minimum tax, a senior administration official said.<\/p>\n<p>\u201cMost of the leaders were in person, with others there virtually,\u201d the official said. \u201cThe leaders all came out in support of a global minimum tax. The president emphasized the importance of this historic deal during his intervention. The president also mentioned that while we don\u2019t see eye to eye on every issue, we can tackle shared interests.\u201d<\/p>\n<p>The global minimum <a href=\"https:\/\/dailycaller.com\/2021\/07\/01\/100-countries-global-minimum-corporate-tax-yellen\/\">tax<\/a> would prevent corporations from operating overseas to avoid taxes. It\u2019s a position that President Joe Biden has pushed for since taking office. By establishing a 15% global minimum tax rate, the U.S. would garner at least $60 billion more in revenue per year in the U.S. alone, an official told reporters.<\/p>\n<p>\u201cThe deal works because it removes the incentives for the offshoring of American jobs. It\u2019s going to help small businesses compete on a level playing field, and it\u2019s going to give us more resources to invest in our people at home,\u201d an official explained. \u201cIt\u2019s a game changer for American workers, taxpayers, and businesses, and in our judgment, this is more than just a tax deal \u2013 it\u2019s a reshaping of the rules of the global economy.\u201d <strong><a href=\"https:\/\/dailycaller.com\/2021\/05\/21\/global-corporate-tax-rate-janet-yellen-treasury-department\/\">(RELATED:&nbsp;Biden Administration Proposes \u2018More Realistic\u2019 15% Global Corporate Tax Rate)<\/a><\/strong><\/p>\n<div id=\"attachment_7312143\" class=\"wp-caption aligncenter\" readability=\"38\">\n<p id=\"caption-attachment-7312143\" class=\"wp-caption-text\">ROME, ITALY \u2013 OCTOBER 30: U.S. President Joe Biden is seen on the far left, as world leaders pose with medical personnel for a group photo at the La Nuvola conference center for the G20 summit on October 30, 2021 in Rome, Italy. (Photo by Kirsty Wigglesworth \u2013 Pool\/Getty Images)<\/p>\n<\/div>\n<p>Now that all leaders have endorsed the deal, it will become official after the release of a communiqu\u00e9 Sunday, <a href=\"https:\/\/www.cnn.com\/world\/live-news\/g20-rome-saturday-session\/index.html\">according<\/a> to CNN. The G20 leaders committed to implementing the deal by a specific 2023 date, and each country involved \u201cwill go through its own process to ratify both pillars of the deal,\u201d a senior administration official said.<\/p>\n<p>G20 finance ministers agreed to a global minimum tax earlier in 2021, but day one of the G20 session Saturday marked the leaders announcing their endorsement, The Hill <a href=\"https:\/\/thehill.com\/policy\/international\/579231-g20-leaders-endorse-global-minimum-tax\">noted<\/a>. The move was described by an official as \u201ca testament to American diplomacy and leadership.\u201d<\/p>\n<p>\u201cThis president is pursuing a foreign policy for the middle class,\u201d the official said.<\/p>\n<p>The Biden <a href=\"https:\/\/dailycaller.com\/2021\/10\/11\/democrats-budget-include-global-minimum-tax-treasury-secretary\/\">administration<\/a> believes that the implementation of a global minimum tax will help the president implement his <a href=\"https:\/\/dailycaller.com\/2021\/10\/28\/biden-build-back-better-agenda-democrats\/\" target=\"_blank\" rel=\"noopener noreferrer\">Build Back Better<\/a> agenda. Biden made a big push for his $1.75 trillion plan prior to leaving for Europe Thursday, but lawmakers have yet to vote on it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>World leaders attending the G20 summit\u2019s first session in Rome Saturday announced their endorsement for a global minimum tax, a senior administration official said.\u201cMost of the leaders were in person, &#8230;<\/p>\n","protected":false},"author":125,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-941393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/941393","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\/125"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=941393"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/941393\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=941393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=941393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=941393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}