Biden economic adviser pushes global corporate tax minimum to counteract proposed US increase

Opponents say Biden's plan will hurt US competitiveness

Council of Economic Advisers chair Cecilia Rouse pushed for a "global minimum tax" on corporations to counteract President Biden's proposed corporate tax rate hike.

Biden economic adviser pushes global corporate tax minimum to counteract proposed US increase Cecilia-Rouse-thumb

"The idea is to make sure that corporations are paying their fair share, to button up some of the loopholes, which have meant more corporations were actually putting more money offshore – off of U.S. soil – and having a global minimum tax so that we’re working with the rest of our trading partners, so that we’re working with the rest of the world so that corporations are paying their fair share worldwide," Rouse told "Fox News Sunday."

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"President Biden is really saying, 'Look, everybody should pay their fair share,'" she said. "Yes, internationally we don't want to be disadvantaged, so he's also working with other countries so that we have a minimum tax internationally so there's not a race to the bottom." [Anti-competitive behavior!]

The American Jobs Plan, the $2.3 trillion spending plan that Biden introduced at the beginning of April, would raise the corporate tax rate to 28% from 21%, reversing a key part of Republicans' 2017 tax law. The measure would also impose a higher global minimum on companies' foreign earnings.

https://www.foxnews.com/politics/biden-corporate-tax-global-cecilia-rouse-hike?fbclid=IwAR2A0-ecGyd2OrWW77ea6lL3w6pmEWABGY-_uP6SOL4EI_z-X4NJ4Xadrcg

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Biden economic adviser pushes global corporate tax minimum to counteract proposed US increase

Biden economic adviser pushes global corporate tax minimum to counteract proposed US increase

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