Will there be a global deal on corporate taxation of multinationals later this year?
The Financial Times reports that Group of Seven countries is closing in on an agreement. France, Germany and Italy think the US offer of a15 percent global minimum tax could set the stage for an international deal by July. United Kingdom Prime Minister Boris Johnson also welcomes the US commitment to a tax on digital companies. Treasury Secretary Janet Yellen will meet with G-7 finance ministers in early June.
Less progress on a bipartisan infrastructure bill. White House aides say the president is willing to keep talking to Senate Republicans but one top GOP lawmaker, Roy Blunt, says his party may pull the plug on negotiations in “a week or 10 days.” Democrats increasingly are skeptical that Republicans will agree to any bipartisan bill.