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Corporate Minimum Tax Resurfaces as Democrats Hunt for Money
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wsj.comWASHINGTON—Senate Democrats announced a 15% minimum tax on large companies’ income on Tuesday, winning support from a key moderate lawmaker, as they try to generate enough money to pay for President Biden’s social-spending and climate-change agenda.
Sen. Kyrsten Sinema (D., Ariz.) endorsed the proposal, after balking at other forms of tax increases. Her objections in the evenly divided Senate have sent lawmakers searching for alternatives in an attempt to cobble together money to cover nearly $2 trillion in spending over a decade.
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