Yellen to push for global minimum tax rate on corporations

Treasury Secretary Janet Yellen on Monday made the case for a global minimum tax rate as she pushes President Biden's plan to increase levies on U.S. corporations in order to fund his $2.25 trillion spending proposal.

In a speech to the Chicago Council on Global Affairs, Yellen called for global coordination on taxes paid by multinational corporations — part of an effort to crack down on companies that relocate in search of lower rates. Yellen's comments were first reported by Axios.