Janet Yellen

The Treasury Secretary waded into the congressional debate over proposed economic and climate legislation.

The U.S. would collect an additional $318.7 billion over the next 10 years by implementing the 15% global minimum tax and exercising the undertaxed-profit rule.

Ireland was one of a few hold-outs before the agreement and sought assurances of U.S. support from Treasury Secretary Janet Yellen.

The West Virginia senator's stand damages the outlook for an agreement to reshape the way multinational corporations are taxed around the world.

Time is running out as Democrats only have until Sept. 30 to use the fast-track budget reconciliation process to pass a bill.

Effective June 7, isolation of Russia includes sanctions prohibiting U.S. accounting firms — even U.S. firms operating from offices overseas — from providing a variety of services to Russian individuals and entities.

The country says it wants a legal guarantee to ensure multinational companies leave more in countries where they generate revenue.

The 15% minimum tax deal needs congressional approval, but lacks the universal support of Democrats and faces concerted Republican opposition.

Warsaw’s resistance is holding up a measure that would implement a 15% minimum corporate tax rate across the European Union.

The Treasury secretary will meet next week with counterparts in Europe, aiming to keep up pressure on Russia and prevent delays to the implementation of a global tax deal.