Why the Global Minimum Tax Is Joe Manchin’s Worst Flip-Flop Yet

Manchin also seems to object now to raising the U.S. tax on foreign earnings that I mentioned earlier from a maximum 13 percent to 15 percent. The tax, known as GILTI (for “Global Intangible Low Tax Income”) targets foreign returns that exceed 10 percent. It was enacted under President Donald Trump to discourage companies from […]

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