Janet Yellen calls for global minimum corporate tax rate

US treasury secretary's comments come as Republicans and some Democrats push back on Joe Biden's $2.3tn infrastructure bill

The treasury secretary, Janet Yellen, made the case for a global minimum corporate tax rate on Monday as the Biden administration faces opposition to its plans to raise rates on US businesses.

Yellen's comments come as Republicans and some Democrats have pushed back on Joe Biden's proposed $2.3tn infrastructure investment bill. The bill would be funded in part by raising rates on US business and closing loopholes that allow domestic and foreign corporations to take advantage of lower taxes overseas.