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US Treasury Secretary Yellen faces questions from Senate Finance Committee; addresses BEPS 2.0

08 June 2022

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Tax Alerts, Legislation & Policy, National/Federal Taxation, OECD, BEPS 2.0

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United States

During a 7 June 2022 Senate Finance Committee hearing on the FY2023 Budget, United States (US) Treasury Secretary Janet Yellen and Democratic Committee members were united in calling for fighting inflation with clean energy proposals and prescription drug reforms to lower consumer costs. The Secretary also faced questions regarding the Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting (BEPS) 2.0 project on new taxing rights and a global minimum tax (Pillar One and Pillar Two, respectively), after a delegation of congressional tax staff traveled to Europe for meetings on the project, and she confirmed ratification of...