Janet Yellen

Treasury Secretary Janet Yellen will argue Monday for a global minimum tax rate for companies as she pushes President Joe Biden’s plans to raise levies on U.S. companies, a person familiar with her remarks said.

The Treasury Secretary said the limitation on state and local tax write-offs causes 'disparate treatment' across taxpayers.

Treasury Secretary Janet Yellen added an international tax policy expert to her staff as the U.S. reverses a Trump-era stance over digital taxation of technology companies.

The U.S. has dropped a key demand in negotiations over digital taxation of technology companies such as Alphabet Inc.’s Google and Facebook Inc., lifting a barrier that had raised transatlantic trade tensions and prevented an international deal.

German Finance Minister Olaf Scholz said President Joe Biden’s administration has shown a readiness to clinch an agreement on how to tax global tech companies, potentially overcoming an American block and paving the way for an accord later this year.

U.S. Treasury Secretary Janet Yellen on Wednesday talked with her U.K. and German counterparts about resolving mushrooming disputes over the taxation of internet giants such as Facebook Inc., highlighting the issue as a priority in her initial bilateral calls.

Janet Yellen won confirmation to become U.S. Treasury secretary, building out President Joe Biden’s team as the administration struggles to win bipartisan support for a $1.9 trillion COVID-19 relief plan for shoring up a weakening economic recovery.

The Treasury Secretary-designate said she would work with lawmakers to fast-track a series of tax increases on corporations and wealthy Americans.

The Treasury secretary will put the unspent CARES Act funding into an account that his presumed successor will soon need authorization from Congress to use.

The former Fed chair would be the first woman to head the Treasury.