Biden Administration Announces Revised Framework for the Build Back Better Act

The Biden administration has announced a revised framework for the Build Back Better Act. In order to pay for the investments included in the framework, a revised package of tax measures is provided, including:

• A 15% minimum tax on large corporations reporting over USD 1 billion in profits,
• A 1% surcharge on corporate stock buybacks;
• Measures for implementing the 15% global minimum tax agreed to at the level of the OECD;
• A new surtax on high-income individuals; and
• Investments in improvin…