EXCERPT:
YELLEN: "President Biden’s proposals announced last week call for bold domestic action including to raise the U.S. minimum tax rate and renewed international engagement, recognizing that it’s important to work with other countries to end the pressures of tax competition and corporate tax base erosion. We’re working with G20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom. Together we can use a global minimum tax to make sure the global economy thrives based on a more level playing field in the taxation of multinational corporations and spurs innovation, growth and prosperity."