Treasury Secretary Janet Yellen said on Sunday she was confident the U.S. Congress would approve legislation to implement the global corporate minimum tax agreed by 136 countries.
Yellen told ABC's "This Week" the actions to bring the United States into compliance with the global minimum tax would likely be included in the so-called reconciliation budget bill containing President Joe Biden's proposed spending initiatives.
The parliamentary maneuver known as budget reconciliation would allow Democrats to act without Republican votes. The so-called "Pillar 1" part of the tax deal would reallocate taxing rights on companies with more than $20 billion in annual revenue to countries where their products and services are sold for 25% of the profit above a 10% margin.
Republican senators told Yellen in a letter they were concerned the Biden administration was considering circumventing the need to obtain the Senate's authority to implement treaties.