Biden and G-7 leaders will endorse a global minimum corporate tax of at least 15%

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The Global Minimum Tax represents a concrete step for the Biden administration towards the goal of crafting a "foreign policy for the middle class."
U.S. President Joe Biden speaks about his administration's pledge to donate 500 million doses of the Pfizer (PFE.N) coronavirus vaccine to the world's poorest countries, during a visit to St. Ives in Cornwall, Britain, June 10, 2021.

WASHINGTON — President Joe Biden and leaders of the G-7 group of nations will publicly endorse a global minimum corporate tax of at least 15% on Friday, one piece of a broader agreement to update international tax laws for a globalized, digital economy.

The leaders will also announce a plan to replace Digital Services Taxes, which targeted the biggest American tech companies, with a new tax plan linked to the places where multinationals are actually doing business, rather than where they are headquartered.

For the Biden administration, the Global Minimum Tax plan represents a concrete step towards its goal of creating what it calls a "foreign policy for the middle…
Christina Wilkie
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