Janet Yellen To Call For Global Minimum Tax Rate Based on ESG Score

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Federal Reserve Chair Janet Yellen testifies before a House Financial Services Committee hearing on "Monetary Policy and the State of the Economy." at the Rayburn House Office Building in Washington, February 11, 2014. Yellen, fresh from taking the helm of the Federal Reserve, made it clear on Tuesday she would not make any abrupt changes to U.S. monetary policy, saying the central bank was on track to keep reducing its stimulus even though the labor market recovery was far from complete. REUTERS/Mary F. Calvert (UNITED STATES - Tags: BUSINESS POLITICS) - RTX18N0I

Axios: Janet Yellen will use her first major address as Treasury secretary to argue for a global minimum corporate tax rate, Axios has learned, as she makes the case for President Biden’s plan to raise U.S. corporate taxes to fund his $2 trillion+ infrastructure plan.

“The fourth beast shall be
A fourth kingdom on earth,
Which shall be different from all other kingdoms,
And shall devour the whole earth,
Trample it and break it in pieces.” Daniel 7:23

Why it matters: Convincing other countries to impose a global minimum tax would reduce the likelihood of companies relocating offshore, as Biden seeks to increase the corporate rate from 21% to 28%.

  • “We are working with G20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom.” Read More
  • Next step: Determine the global corporate tax based on the environment, social and governance (ESG) score per company  Read More

G20 Countries GDP Comparison 2004-2023 - MGM Research

 

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