The New Paper

April 8, 2021

Treasury department releases tax plan detail

The treasury department released details on the Biden administration’s corporate tax proposal yesterday. The proposal (which aims to fund the administration’s infrastructure plan) includes a 28% corporate tax rate, a 15% minimum tax on “book income” for companies with at least $2B of net income, clean energy subsidies, and a global corporate minimum tax rate. Congress is expected to review the proposal and related legislation in the coming months.
This story is from the April 8, 2021 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.