The Group of 7 summit yielded a historic tax agreement that, if enacted, could yield billions for governments around the world.
The G7 seeks to make tech giants pay more tax in the countries where they sell the most - but Amazon's slender profit margin could see it escape this.
Biden also offered to cut the amount of new spending he's seeking to $1 trillion. Republicans have barely budged in the negotiations.
A global minimum corporate tax rate would stop companies from moving to a different country to get a better tax rate.
Treasury Secretary Janet Yellen has been at the forefront of enacting a global minimum tax, and the FT reports the G-7 could agree a deal this week.
Treasury Sec. Janet Yellen has been making the case for a nonbinding global minimum tax rate, and the NYT reports she's proposing it be at least 15%.
As infrastructure talks heat up, who's paying and who's receiving taxes is set for the spotlight. This July, families will start getting checks.
Of the 100 firms in the S&P 500 with the lowest median wages, 51 boosted CEO pay by 29% on average while cutting the typical worker's pay by 2%.
"What I'm proposing is badly needed and able to be paid for and still grow," Biden said in a speech. "Trickle-down ain't working very well, man."
At times shouting and at times whispering, Biden lit into corporate executives, saying he won't "deprive" any of second homes or private jet travel.
President Joe Biden has proposed boosting corporate tax rates up to 28% and several other rates up to 39.6%. Morgan Stanley sees just one as likely.
Seven out of the 10 top countries where US multinational companies report profits are tax havens, according to a Bank of America Research chart.
In a new poll from Hill-HarrisX of 2,813 registered voters, 56% responded that billionaires paying a wealth tax could help solve wealth inequality.
Some prominent business groups have vocally opposed Biden's tax hike, but many have been silent and some even supportive, like Jeff Bezos.
The current rate is 21% after Trump slashed it from 35% in 2017. Biden has proposed a 28% rate to pay for his $2 trillion infrastructure plan.
Some Democrats argue capping the deduction for state and local taxes hurts blue states; Rep. Alexandria Ocasio-Cortez says it mostly hurts the rich.
Republicans suggested raising the gas tax or implementing a vehicle mileage tax on electric cars to pay for an infrastructure overhaul.