October 26, 2021
(Reuters) – Democratic U.S. senators on Tuesday unveiled details of a plan to enact a 15% minimum corporate tax that is expected to apply to about 200 corporations, CNBC reported.
It said the plan was put forward by Senator Elizabeth Warren and Senate Finance Committee Chairman Ron Wyden, both Democrats, alongside Senator Angus King, an independent who caucuses with the Democrats.
The proposal targets businesses with more than $1 billion in profits annually over a three-year period, CNBC said, citing legislative language posted to Warren’s website.
(Reporting by Tyler Clifford; Editing by Tim Ahmann and Howard Goller)
Source Link Details emerge on corporate minimum tax plan from U.S. Senate Democrats -CNBC