Biden wants to set a global minimum tax. The G7 could provide a crucial boost
CNN
The Biden administration's ambitious plan to overhaul the global tax system is about to face a crucial test.
Treasury Secretary Janet Yellen heads to a meeting of Group of Seven finance ministers in London on Friday and Saturday looking to build support from many of the world's top economies — an important step in the administration's efforts to rewrite international tax rules and discourage American companies from booking earnings abroad. G7 finance ministers are expected to back the US plan during the summit, according to a Reuters report citing a US Treasury official. Washington's proposal will likely get a full endorsement when G7 leaders including President Joe Biden gather in the United Kingdom next week, the news agency reported.More Related News
President Joe Biden on Sunday delivers his first commencement address of the 2024 season at Morehouse College, where the president may for the first time in months have to confront the angst that’s been percolating on college campuses nationwide toward his administration’s policies on the Israel-Hamas war.
Arab and Palestinian Americans left a meeting with Secretary of State Antony Blinken on Friday night frustrated they did not have a clear understanding of how the Biden administration might act upon their concerns as the Israel-Hamas war devastates the civilian population in Gaza, participants told CNN.