Democratic presidential candidate Joe Biden proposed nearly $1 trillion in new corporate taxes on Wednesday as he sought to generate more revenue to pay for his policy plans on health care, climate, infrastructure and education. One of his new taxes would go after companies such as Amazon.com Inc. that have years when they report profits to investors but show little or no U.S. tax costs. A second would double the minimum tax rate on overseas income of U.S.-based multinationals.

Source: Wall Street Journal December 04, 2019 20:47 UTC