(Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday said the Biden administration is hoping to gain endorsement at next month’s G20 finance ministers meeting for a global minimum tax.
Yellen’s remarks came to lawmakers during a hearing on the administration’s budget proposal and followed a Reuters report on Tuesday that a draft communique being circulated ahead of the July 9-10 gathering indicated the finance leaders would endorse a global minimum tax, although it made no reference to a specific rate. The Biden administration is seeking a global minimum tax of at least 15%.
(Reporting By Dan Burns)
