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Yellen’s comments are part of an effort to prevent companies from seeking locations with lower taxes as the administration seeks higher levies on American firms to help pay for a $2.25t infrastructure program. Yellen will say the U.S. is working with G-20 nations to find an appropriate minimum “that can stop the race to the bottom.”
“Competitiveness is about more than how U.S.-headquartered companies fare against other companies in global merger-and-acquisition bids,” Yellen will say in a speech to the Chicago Council on Global Affairs. “It is about making sure that governments have stable tax systems that raise sufficient revenue to invest in essential public goods and respond to crises, and that all citizens fairly share the burden of financing government.”
