WASHINGTON— The groundbreaking global corporate-tax agreement secured last year by Treasury Secretary Janet Yellen included a “failsafe” measure to encourage compliance by its 137 signatories.
That tripwire now looks to be tested by its biggest member economy: the U.S.
Just as feared by some negotiators, Congress has shown little appetite for enacting the 15% worldwide minimum tax. Democratic Sen. Joe Manchin — a swing voter in the 50-50 chamber — said this month he’s not prepared to go ahead with a legislative package that contained the measure.
