Economists are sceptical of the Biden administration’s push for a global minimum tax rate for corporations, saying not only will it “frustrate” the free market, but it will see very little support from foreign governments. “At the end of the day, any international agreement is essentially toothless due to the existence of national sovereignty,” Gigi…
Global Minimum Tax Rate Bad for Free Market, National Sovereignty: Economists
April 9, 2021
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Talks Over Global Minimum Tax Pushed by US Gains Momentum
WASHINGTON—Treasury Secretary Janet Yellen urges other countries to support a global minimum tax rate for corporations, which is crucial for funding President Joe Biden’s infrastructure proposal, called the American Jobs Plan. The Biden administration proposes substantial tax increases on U.S. corporations to pay for the $2.3 trillion plan aimed at boosting investment in infrastructure, clean energy, manufacturing,…
Biden Admin Wants Global Minimum Tax Rate on Companies: Treasury Secretary Yellen
April 5, 2021
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Treasury Secretary Janet Yellen said the Biden administration is working with other like-minded world leaders to introduce a global minimum tax rate on companies. In a virtual speech delivered to the think tank Chicago Council on Global Affairs, Yellen deplored what she said has been a “race to the bottom” over the past 30 years, in…
Yellen to Name Climate Czar to Advance Biden’s Green Energy Agenda
February 13, 2021
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WASHINGTON—Treasury Secretary Janet Yellen is reportedly looking to appoint an Obama administration veteran as climate czar at the Treasury Department to lead efforts in assessing the impact of climate change on financial markets and pushing tax incentives for renewable energy. Yellen is expected to appoint Sarah Bloom Raskin, former deputy Treasury secretary under the Obama…
Yellen Seeks to Name Climate Czar to Advance Biden’s Green Energy Agenda
February 13, 2021
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WASHINGTON—Treasury Secretary Janet Yellen is reportedly looking to appoint an Obama administration veteran as climate czar at the Treasury Department to lead efforts in assessing the effects of climate change on financial markets as well as pushing tax incentives for renewable energy. Yellen is expected to appoint Sarah Bloom Raskin, former deputy Treasury secretary under…
Economists Divided Over Inflation Risks From Stimulus Plan
February 10, 2021
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WASHINGTON—The prospects for another large COVID stimulus package have reignited fears for inflation, causing a deep division among economists. While some forecasters believe that the stimulus plan pushed by Democrats threatens future inflation, the others shrug off these concerns, saying inflation worries are overstated. Democratic economist Larry Summers in an op-ed in the Washington Post…
NTD Business Full Broadcast (Feb. 8)
Bitcoin surges on Monday thanks to Tesla CEO Elon Musk. Could this be the turn for it to be widely accepted? Treasury secretary Janet Yellen thinks Biden’s massive stimulus plan will end unemployment. Lance Roberts, chief strategist at Real Investment Advice thinks differently. Is canceling student debt a good idea? NTD takes a look at how…
US to Return to Full Employment Next Year if Congress Passes $1.9 Trillion Relief Bill: Yellen
The United States will return to full employment in 2022 if President Joe Biden’s relief package is passed, Treasury Secretary Janet Yellen predicted Sunday. “I would expect that, if this package is passed, that we would get back to full employment next year,” Yellen said. Full employment refers to an economy in which the unemployment…
Yellen Says US Could Return to Full Employment Next Year if Congress Passes $1.9 Trillion Relief Bill
The United States could return to full employment in 2022 if Congress approves President Joe Biden’s relief package, Treasury Secretary Janet Yellen predicted on Feb. 7. “I would expect that, if this package is passed, that we would get back to full employment next year,” Yellen said on CNN’s “State of the Union.” Full employment…
Yellen Suggests $60,000 Income Threshold for Stimulus Checks
Treasury Secretary Janet Yellen on Sunday said she believes that individual Americans earning $60,000 per year should be eligible for direct $1,400 stimulus payments amid talks about who should receive the checks. “If you think about an elementary school teacher or a policeman making $60,000 a year, and faced with children who are out of…
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