Republican Leaders Push Back Against Global Business Tax

Mike Crapo and Kevin Brady

Republican lawmakers are pushing back against the Biden administration’s plan to join a global compact implementing a tax on U.S. corporations regardless of where they operate.

One hundred and thirty six136 countries agreed Friday to implement a global business tax, and G-7 finance leaders agreed to the plan Saturday. President Joe Biden and Treasury Secretary Janet Yellen praised the plan.

Proposed by the Paris-based Organization for Economic Co-operation and Development (OECD), an intergovernmental economic organization, the global tax is necessary to respond to an “increasingly globalized and digital global economy,” OECD said.

Read More

China Faces U.S. Pressure to Contain Deadly Fentanyl Exports

by Joyce Huang   After meeting with Chinese President Xi Jinping at the G-20 meeting earlier this month, U.S. President Donald Trump praised China for considering imposing the death penalty on illicit producers of fentanyl – an opioid up to 100 times more potent than morphine with a lethal dose…

Read More