But it could be an informal agreement between the leaders of these countries, that they will all pass such laws. In that case, passing a law that changes the corporate tax rate would fit into a reconciliation package with no issues.
Though, if it’s an informal agreement then no such law even needs to be passed, since our corporate tax rate is above the agreed minimum.
Offhand, does someone know which countries that belong to the G7 and made this "historic agreement" have higher tax rates than that agreed upon?
Edit
In an alternate universe I wish the title was"G7 agrees to carbon tax" that would certainly level the playing field...I mean surely intrinsically FANG's are highly carbon intensive if you took into account the pollution they help generate through added energy usage (delivery trucks every day, lots of packaging, server farms etc) and the highly paid jobs which fuel inflation, consumption and speculation...(p.s. please don't feel ruffled)
But it could be an informal agreement between the leaders of these countries, that they will all pass such laws. In that case, passing a law that changes the corporate tax rate would fit into a reconciliation package with no issues.
Though, if it’s an informal agreement then no such law even needs to be passed, since our corporate tax rate is above the agreed minimum.