Reuters
Yellen says U.S. aims to move ahead with global minimum corporate tax despite setback
NUSA DUA, Indonesia (Reuters) -The United States will look for every opportunity to move ahead and enact a global minimum corporate tax agreement despite the opposition of a key Democratic senator, Joe Manchin, to raising corporate taxes, U.S. Treasury Secretary Janet Yellen said. Yellen told reporters on Saturday that finance officials from the Group of 20 major economies reached strong consensus about many issues, including the need to address a worsening food security crisis, despite differences over Russia’s war in Ukraine that prevented the leaders from issuing a joint statement. Manchin, who holds the pivotal vote in the evenly divided Senate, this week said he would not support a Democratic proposal for new climate change spending and higher taxes for corporations and wealthier Americans.
