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According to BofA, the likelihood of a global corporate minimum tax hike is increasing, thanks to Biden’s efforts.

As policymakers and policy analysts in Washington discuss the merits of President Biden’s controversial reforms to the corporate tax code, Bank of America experts said Friday that one component of Biden’s proposal, a global minimum tax, has a higher chance of becoming a fact than it did previously. This is why.

A global minimum tax, unlike Biden’s other tax plans, cannot be imposed alone by the US: other world economies will have to…