Strong Tech Support Could Help Sell Congress on Global Tax Rules: Yellen

Strong Tech Support Could Help Sell Congress on Global Tax Rules: Yellen
Treasury Secretary Janet Yellen testifies before the Senate Appropriations Subcommittee on Financial Services about the FY22 Treasury budget request on Capitol Hill, in Washington on June 23, 2021. Shawn Thew/Pool via Reuters
Reuters
Updated:

DUBLIN—U.S. Treasury Secretary Janet Yellen said she expected U.S. tech giants to broadly support the reallocation of taxing rights agreed to by nearly 140 countries as part of a broader deal on global taxes, saying the impact on U.S. companies should be minor.

Yellen told Reuters on Sunday the support of the big global players should help foster bipartisan support among U.S. lawmakers for what is known as Pillar 1 of the tax deal negotiated by the Organization for Economic Cooperation and Development.