U.S. Republicans vow to oppose Yellen’s G7 tax deal, casting doubt on its future

Published by
Reuters

By David Morgan and David Lawder WASHINGTON (Reuters) – Several top U.S. Senate Republicans on Monday rejected Treasury Secretary Janet Yellen’s G7 deal to impose a global minimum corporate tax and allow more countries to tax big multinational firms, raising questions about the U.S. ability to implement a broader global agreement. The opposition from Republicans may push President Joe Biden to attempt to use budget procedures to pass the initiatives with only Democratic votes. It left lawyers and tax experts in Washington wondering whether it could get done without crafting a new international…

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