"Together we can use a global minimum tax to make sure the global economy thrives based on a more level playing field in the taxation of multinational corporations, and spurs innovation, growth and prosperity", Yellen said during an online interview with the Chicago Council on Global Affairs.
The new US Treasury Secretary's statement goes hand in hand with Biden's plans to raise the domestic corporate tax rate from 21% to 28% to fund his administration's $2.3 trillion infrastructure plan.
Biden's plan would raise the U.S. corporate tax to 28% and the minimum for multinationals to 21%, partially reversing the previous administration's cut from 35% in its 2017 tax legislation.
Biden said that he is going to push as hard as he can to change the circumstances so the U.S. can compete with the rest of the world. White House Press Secretary Jen Psaki told reporters that the corporate tax rate being proposed is lower than it was in 2017.
"An agreement on global taxation is now within reach", he said. The update expressed Canada's concern about the lack of consensus and said Ottawa would act on its own in 2022 with a tax on corporations providing digital services if no global deal is reached. The Liberals have not announced any plans to alter the federal corporate tax rate. "Not at all", Biden said, asserting that there is no evidence of that.
The corporate tax hikes in the USA and Britain are being presented as an effort to raise billions in revenue to help offset the cost of pandemic-related support programs and stimulus spending.
221 new COVID-19 cases, 3 deaths reported, 165 recoveries
The remaining doses from the March 22 Moderna shipment are expected to arrive April 3 (7,200) and April 7 (1,400). The Regina zone accounts for 802 (85 per cent) of the VOC cases with confirmed lineage reported in Saskatchewan.
The interconnected global economy has led to "a thirty-year race to the bottom on corporate tax rates". Canada's corporate tax rate steadily declined during the period from 1980 to 2015, yet research found corporate tax revenues did not follow the same downward trend.
Last month, The Washington Post reported that Yellen was working with her counterparts worldwide, including finance ministers in Germany and France, to push her global minimum tax agenda.
She said that for companies and economies to remain competitive it was important to "end the pressures of tax competition and corporate tax base erosion". "It is a big concern of ours". "We are very much in favour of a global minimum corporate tax".
"We are delighted by the USA support for a minimal corporate tax", French Finance Minister Bruno Le Maire told AFP.
The province also reported about 8,000 vaccine doses were administered Saturday, with 693,000 shots given out to date. Hinshaw said she will provide an update, along with the next live COVID-19 update, on Monday afternoon.
Mr Arradondo agreed and acknowledged that this must also be taken into consideration when officers decide to use force. He asked whether officers need to take the actions of a crowd into account, and Arradondo agreed.
Alberta Health updated its online data on Monday afternoon, tallying up case numbers confirmed from Thursday to Sunday. Variants of concern now represent just over 39 per cent of all active cases, up from 27 per cent last Monday.
Frederick Police are investigating the incident. "There's no further threat to the Frederick city and Frederick County residents". Just after 9am, Frederick police tweeted: 'We are on scene responding to an active shooter in the 8400 block of Progress Drive'.
A White House spokesperson says the United States is seeking deeper cooperation with Japan on establishing robust supply chains. Among older people, 75 per cent have now received at least one shot, and more than 55 per cent of them are fully vaccinated.
The New York Times explained police department spokesman Allen Etzler indicated the two victims had "life-threatening" injuries. The shooter went into a business, causing people inside to flee, Frederick Police Chief Jason Lando said.
Arradondo agreed and acknowledged that this must also be taken into consideration when officers decide to use force. The city moved soon after Floyd's death to ban police chokeholds and neck restraints.
COVID-19 in Alberta
Alberta has now administered more than 700,000 doses of COVID-19 vaccine, including more than 116,000 second doses. As of Monday, five people had been infected and one case had been confirmed as the P1 variant, Hinshaw said.