Global Tax Deal Faces Perilous Path

Wall Street Journal : “Both pillars present tricky legislative challenges. They likely will move separately through Congress, but the international consensus rests on pairing them and completing both tasks.”

“The Biden administration will try to turn its drive for a tougher minimum tax into legislation this fall without Republican votes by using the budget reconciliation process that requires a simple Senate majority instead of the 60 votes needed for most bills. The White House would then attempt to change the international rules, perhaps through a treaty requiring Republican support.”