Reuters

Senate Democrats unveil corporate tax for Biden agenda

(Reuters) -Leading Democratic senators unveiled legislation on Tuesday to impose a 15% minimum tax on the most profitable U.S. corporations, saying the levy would help finance President Joe Biden’s social policy and climate change plans. The proposal, part of a two-pronged legislative strategy to curtail tax avoidance by corporations and the wealthy, was put forward by Senator Elizabeth Warren and Senate Finance Committee Chairman Ron Wyden, both Democrats, along with Senator Angus King, an independent who caucuses with the Democrats.