US Treasury’s Yellen Seeking October Agreement on Global Minimum Corporate Tax

Treasury Secretary Janet Yellen testifies during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington on Sept. 28, 2021. Kevin Dietsch/Pool via Reuters

WASHINGTON—U.S. Treasury Secretary Janet Yellen said on Tuesday she is looking for G20 countries to reach political agreement on a global minimum corporate tax deal at their summit in October and has not ruled out a rate higher than 15 percent.

Yellen, speaking to the National Association for Business Economics, said the Senate Finance Committee is looking at a “slightly higher” overseas minimum corporate tax rate than the 16.5 percent passed by the House of Representatives Ways and Means Committee.