This weekend’s G20 meetings were further confirmation: The world is ready to end the global race to the bottom on corporate taxation, and there’s broad consensus about how to do it – with a global minimum tax of at least 15 percent. One hundred thirty-one nations – representing more than 90 percent of the global economy – agree on this. The world should now move quickly to finalize the deal.
In addition to tax, the G20 made good progress on a range of issues, including climate change and the effort to help lower income nations with their vaccine rollout so the world can finally neutralize the threat of COVID-19.
President Biden has spoken about bringing America back onto the world stage, and now you’re seeing why. Being back makes America better. We can cooperate in ways that make us more competitive in the global economy. We can solve problems together that we could not solve alone.