Corporate taxes

With the House expected to take up the bill soon, here are its important details.

Former Treasury Secretary Lawrence Summers criticized the stripping of a global corporate minimum tax from the recent tax-and-climate change bill.

What are the possible advantages and what should business owners think about?

About $222.2 billion of the increase on businesses will come from a new corporate minimum tax that requires companies with at least $1 billion in profits to pay a minimum of 15%.

After more than a year of stop-and-start negotiations, Democrats agreed to a narrow bill to invest in energy initiatives, curb drug prices and reduce the deficit, paid for by new corporate taxes.

President Joe Biden and Senate Majority Leader Chuck Schumer are the biggest winners now that a huge piece of Democrats' economic agenda is hurtling toward enactment.

The legislation aims to prevent large corporations from exploiting tax breaks to pay little if any tax, and it would allow Medicare to negotiate drug prices for the first time.

The American Institute of CPAs has sent comments to lawmakers in the House and Senate about the tax proposals in the Biden administration's climate, tax and spending bill.

A top Democrat pushing for a new minimum tax on companies invoked fresh data showing more than 100 profitable U.S. corporations paying an average tax rate of just 1.1% as a showcase for the initiative.

The path was nearly cleared for one of the cornerstones of President Joe Biden's domestic agenda after Democrats agreed on a revised version of their tax and climate bill.