Senate-Passed China Bill Uncertain in House

The Senate-passed U.S. Innovation and Competition Act, meant to bolster America’s technological and economic competition with China, faces a lengthy, unknown timeline in the House of Representatives. House Democrats are advancing several of their own bills to bolster U.S. competitiveness in science and manufacturing and to address human-rights issues. POLITICO reports that, according to a… Read more »

OECD Expects Global Tax Deal in October

Despite growing expectations in Europe, the outgoing head of the Organization for Economic Cooperation and Development (OECD) said Monday that a global deal to make multinational corporations pay more in the countries where they operate might not come until October. The OECD has been trying to reach agreement among nearly 140 countries on a global… Read more »

G7 Nations Close on Global Digital Tax Deal

European leaders expressed confidence this week that an agreement on new global tax rules is imminent, with G7 nations set to throw their weight behind a U.S. compromise on taxing large multinational corporations. The Biden administration last month pitched a compromise to counterparts around the world that would apply new global tax rules to no… Read more »

U.S. Pitches New Global Tax Deal

The Biden administration has pitched a compromise to counterparts around the world that would apply new global tax rules to no more than 100 large multinational corporations. The U.S. plan would consider a company’s profitability in determining whether more of its income could be taxed by the countries where it does business. The Biden administration’s… Read more »