Yellen Calls for Global Minimum Corporate Tax Rate

The video discusses the global race to lower corporate tax rates and its impact on competitiveness. It emphasizes the need for stable tax systems to fund public goods and handle crises. President Biden's recent proposals aim to raise the US minimum tax rate and engage internationally to combat tax competition. The video highlights efforts with G20 nations to establish a global minimum corporate tax rate, promoting a fairer global economy and encouraging innovation and growth.

Why is international engagement important in the context of corporate tax rates?

What is the significance of a global minimum corporate tax rate?