Joe Biden's economic adviser pushed Sunday for a 'global minimum tax' for corporations in order to close loopholes in companies relocating overseas to circumvent rate hikes in the U.S.
'The idea is to make sure that corporations are paying their fair share,' Council of Economic Advisers chair Cecilia Rouse told 'Fox News Sunday.'
'To button up some of the loopholes, which have meant more corporations were actually putting more money offshore – off of U.S. soil,' she continued. 'And having a global minimum tax so that we're working with the rest of our trading partners, so that we're working with the rest of the world so that corporations are paying their fair share worldwide,'
'President Biden is really saying, 'Look, everybody should pay their fair share,'' she continued.
To help pay for trillions more in federal spending, Biden has proposed raising taxes on individuals, corporations and capital gains.