Treasury Secretary Janet Yellen on Monday called for an end to global «tax competition,» which she said distorts the economic playing field and pressures governments to erode their own tax base.
April 5 (UPI) — Treasury Secretary Janet Yellen on Monday called for an end to global «tax competition,» which she said distorts the economic playing field and pressures governments to erode their own tax base. Yellen made the comments in front of the Chicago Council of Global Affairs at a time when the Biden administration is contemplating raising corporate taxes to pay for an ambitious nationwide infrastructure plan. While the plan will go to rebuild roads, bridges, water lines and electrical grid, some fear corporations will move their operations overseas to avoid the new taxes altogether.
