US Republicans Vow to Oppose Yellen's G-7 Tax Deal, Casting Doubt on Its Future

WASHINGTON - Several top U.S. Senate Republicans on Monday rejected Treasury Secretary Janet Yellen's G-7 deal to impose a global minimum corporate tax and allow more countries to tax big multinational firms, raising questions about the United States' 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 treaty, which requires approval by a two-thirds majority in the evenly split 100-member Senate.  "It's wrong for the United States," Republican Senator John Barrasso said of the tax deal struck Saturday by finance ministers from the G-7 wealthy democracies.