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.