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The Treasury Department has proposed at least a 15% global minimum tax rate for corporations in recent negotiations, The New York Times reports. 

Treasury officials told the Times that their proposal was met “enthusiastically;” it’s a lower rate than anticipated, but they told the paper that it marks a “pivotal moment” in the ongoing negotiations.

The global minimum tax is meant to prevent multinational corporations from moving their operations to a country with a more favorable tax rate. It’s nonbinding, and would have to be mutually agreed on by the countries adopting it; it’s been details ⇒

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