Multiple U.S. Senate Republicans have rejected Treasury Secretary Janet Yellen’s G7 deal to impose a global minimum corporate tax.
The opposition from Republicans may push President Biden to attempt to use budget procedures to pass the tax deal with only Democratic votes.
The uproar left lawyers and tax experts in Washington wondering whether it could get done without crafting a new international treaty.
“The deal is wrong”
one senator says.
Republican Senator John Barrasso said of the tax deal struck on Saturday by finance ministers from the G7 wealthy democracies will be wrong for the United States of America.
“I think it’s going to be anti-competitive, anti-U.S., harmful for us as we try to continue to grow the economy and certainly at a time when we’re coming out of a pandemic,”
