Tax rates

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.

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 Joint Committee on Taxation found that some middle- and low-income households could pay $16.7 billion in additional taxes next year as a result of the draft bill.

Now that Senator Joe Manchin is on board with a $433 billion tax and climate bill, Democrats, Republicans and the private equity industry all are trying to suss out where the Arizona lawmaker stands.

About half of a new alternative corporate income tax would be paid by companies that self-identify as manufacturers.

The former Treasury secretary said that any tax hikes shouldn’t go toward funding fresh outlays.

A worldwide tax deal heralded as a “revolution” for the profits of multinational tech firms has run into a thicket of technical difficulties that will delay implementation to 2024 at the earliest.

Senate Democrats are working on shrinking the tax increases in the president's economic package as part of a bid to get it passed in the coming weeks.

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

Kimberly Clausing pushed to increase taxes on corporations and wealthy Americans, including upping the domestic corporate rate to 28%.