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Biden Seeks to Preserve Some Incentives Under Global Minimum Tax

March 3, 2022, 9:12 PM

The Biden administration wants to work with lawmakers to ensure companies can continue to benefit from certain tax incentives after the implementation of a global minimum tax, a Treasury official said.

“We remain entirely committed to working with Congress to ensure that tax credits and other tax incentives that promote U.S. jobs and investment are protected,” said Lily Batchelder, assistant secretary for tax policy at the Treasury Department. She was speaking Thursday at an event hosted by the Federal Bar Association.

Batchelder pointed to “the direct pay structure of the green credits in BBB” and “some form of refundability” as ...