Biden economic adviser pushes global corporate tax minimum to counteract proposed US increase

Council of Economic Advisers Chair Cecilia Rouse pushed for a "global minimum tax" on corporations.

"President Biden is really saying, 'Look, everybody should pay their fair share,'" she said. "Yes, internationally we don't want to be disadvantaged, so he's also working with other countries so that we have a minimum tax internationally so there's not a race to the bottom." The American Jobs Plan, the $2.3 trillion spending plan that Biden introduced at the beginning of April, would raise the corporate tax rate to 28% from 21%, reversing a key part of Republicans' 2017 tax law. The measure would also impose a higher global minimum on companies' foreign earnings.