Corporate America Is Nowhere Near Supporting Yellen’s Global Tax Deal
- Lack of backing may threaten or delay approval by Congress
- Countries had agreed to implement deal by end of 2023
This article is for subscribers only.
Treasury Secretary Janet Yellen is counting on the support of corporate America for a recently agreed global tax deal to help win passage in the U.S. Congress -- a crucial step for its worldwide success.
The problem with that plan: Big business is nowhere near backing the plan. Executives at eight major U.S.-based multinational corporations interviewed by Bloomberg said that far too much remains unknown about the deal, whose fine print is still being negotiated.