President Joe Biden’s Treasury Department is calling for a “more robust minimum tax” on profits earned by American Corps overseas to remove incentives for companies to shift earnings outside US borders. Making such a change is critical to maintaining domestic tax revenues and protecting American workers, Kimberly Clausing, the Treasury’s deputy assistant secretary for tax analysis, said in prepared remarks to the Senate Finance Committee last week. Clausing’s comments go to the core of discussions among Democrats as they look to draw up legislation that would increase taxes on Corps and wealthy Americans. Biden is planning to propose an increase in the domestic corporate rate to 28%, and he
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