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White House adviser John Podesta will replace John Kerry as the nation’s lead climate diplomat, the White House announced on Wednesday. “We need to keep meeting the gravity of this moment, and there is no one better than John Podesta to make sure we do,” White House Chief of Staff Jeff Zients, in a written statement shared with reporters. Podesta will remain at the White House and will get the title of senior advisor to the president for international climate policy. In that role, he will lead the Biden administration’s international climate policy agenda and will coordinate with other officials...

I had not heard this. And what I am hearing is pretty disturbing as, unsurprisingly, it completely screws American businesses. It takes the concepts of globalism and equity, then combines them while surrendering our sovereignty over our own tax revenues. Basically giving it away.Does that sound about right? The quiet new way @JoeBiden & @TheDemocrats wants to tax you. @OECD surrenders America’s sovereignty over our tax code and allows foreign countries to take our taxes that were meant for our own essential programs and military. https://t.co/7H2rYl6iB0— Topper in NC (@LieselGreer) July 22, 2023Horrifically enough, it is.Over the past two years,...

In Paris, the Summit for a New Global Financing Pact has just concluded. The two-day Paris meeting attracted a host of important globalists and heads of state, including Biden’s climate envoy John Kerry, Treasury Secretary Janet Yellen, French President Emmanuel Macron, German Chancellor Olaf Scholtz, Brazilian president Lula da Silva, European Commission President Ursula von der Leyen, World Bank head Ajay Banga, IMF President Kristalina Georgieva, and UN Secretary-General António Guterres. These and many other globalist movers and shakers headlined the latest in a series of international climate confabs whose purpose is compensating poor countries for alleged climate-related injustices.

French President Emmanuel Macron has suggested the imposition of a global taxation system in order to subsidise the green agenda to mitigate climate change. Speaking at the Summit for a New Global Financing Pact in Paris on Friday, Mr Macron argued that actions from individual governments would be insufficient to deal with the alleged armageddon set to descend upon the world and therefore a new international taxation framework should be established.

@JStein_WaPo Scoop: White House weighs declaring national climate emergency as soon as this week, per sources, as collapse of talks w/ Manchin leads admin to explore raft of unilateral options

The Biden administration’s international tax agenda suffered a setback when Sen. Manchin rejected a 15% minimum tax on multinational companies this past week, dimming prospects of turning last year’s global tax agreement into reality. Biden administration officials had planned to use Democratic fiscal legislation to enact the U.S. piece of the deal struck last year by Treasury Secretary Janet Yellen and more than 130 other countries. They wanted quick action to set a 15% minimum tax on U.S.-based multinational companies in each country where they operate, a move aimed at showing international leadership and prodding other countries to follow suit....

Scientists are mad as hell and demand their claims of looming climate catastrophe are taken seriously. That’s the message released Sunday by a loosely federated global network of scientists and academics who plan “high levels of disobedience” to highlight what they say is a planet in decay. Members of Scientist Rebellion told AFP their non-violent actions are timed to coincide with an upcoming report from the U.N.’s climate science advisory panel laying out options for slashing carbon pollution.

Strains of a "superpower" bacteria that could cause the world's next deadly pandemic have been discovered by scientists in Antarctica. Researchers found that the bacteria have a built-in resistance to antibiotics that could make current treatments useless. The Chilean researchers made the discovery during research into how climate change could affect the spread of bacteria that had been frozen in ice for thousands of years. They warned that climate change means the bacteria will have the potential to spread beyond polar regions, with potentially catastrophic consequences. ...

Last Friday, in a triumph for transnationalism, 136 nations, including the U.S., agreed to mandate a global corporate income tax for all nations that will not be allowed to fall below 15%."Virtually the entire global economy has decided to end the race to the bottom on corporate taxation," said Treasury Secretary Janet Yellen, who negotiated the pact.Betraying a nervousness as to how such a minimum corporate tax, dictated by globalists, will be received in Congress, Yellen urged that it be adopted "swiftly." Yellen is right to be nervous.The tax proposal is a giant leap forward toward a globalism that America...

The breakthrough comes after some changes were made to the original text. Notably that the rate of 15% will not be increased at a later date, and that small businesses will not be hit with the new rates. This helped Ireland — a longtime opponent of raising corporate tax rates — to get on board with the plan.... The agreement is "a once-in-a-generation accomplishment for economic diplomacy," U.S. Treasury Secretary Janet Yellen said in a statement. Yellen applauded the many nations who "decided to end the race to the bottom on corporate taxation," and expressed hope that Congress will use...

A major maritime industry association on Monday backed plans for a global surcharge on carbon emissions from shipping to help fund the sector’s shift toward climate-friendly fuels. The International Chamber of Shipping said it’s proposing to the United Nations that all vessels trading globally above a certain size should pay a set amount per metric ton of carbon dioxide they emit. Environmental groups welcomed the proposal to the the International Maritime Organization, a U.N. body, but cautioned that it doesn’t specify what carbon price would be supported by the group, which represents commercial shipowners and operators covering over 80% of...

Nine countries have refused to sign onto an international tax reform framework that includes a 15 percent global minimum corporate tax pushed by the Biden administration as a way to reduce international tax arbitrage by U.S. multinationals and blunt the impact of President Joe Biden’s proposed domestic corporate tax hike. While officials from 130 out of 139 countries in the so-called OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting agreed last week to establish the new framework, Ireland, Estonia, Hungary, Peru, Barbados, Saint Vincent and the Grenadines, Sri Lanka, Nigeria, and Kenya did not sign the agreement. Irish Finance...

Since the beginning of the new administration, President Biden has not missed an opportunity to tell global leaders that “America is back” on the world stage. This trend was amplified at the most recent G-7 summit. However, despite repeated assertions to the contrary, the agenda Biden pursued at this summit has great potential to harm the global economy and alienate the United States from its allies. This is most particularly true when it comes to the administration’s plans for a global corporate minimum tax (GCMT). The proposal from the administration seeks to get as many countries as possible to agree...

The Group of Seven (G7) nations, including the United States and six other wealthy countries, recently announced they had reached an agreement to impose a minimum global corporate tax rate on multinational companies and would be amending long-held international tax principles and rules. Treasury Secretary Janet Yellen hailed the announcement as a victory that would end the global “race to the bottom” on taxation. But in truth, what the G-7 proposed is a bad deal for America’s sovereignty, American businesses, and taxpayers.The agreement has two main components. The first is to implement a new tax rule. Currently, corporations pay taxes...

LONDON - When U.S. President Joe Biden flies to Europe this week, he will find his hosts welcoming but wary. His predecessor Donald Trump may be gone, but he leaves a long shadow. Biden’s first foreign trip as president starts Wednesday and includes a gathering of the Group of Seven wealthy nations by the seaside in southwest England, a NATO summit, a meeting with European Union chiefs, and then a tete-a-tete in Geneva with his Russian counterpart and adversary, Vladimir Putin. For most of America’s allies, Biden is a relief. Trump often sowed chaos, accusing the NATO military alliance of...

A top official at the Organization for Economic Cooperation and Development (OECD), which is hosting talks on a global corporate tax being pushed by the Biden administration, said a 15 percent minimum rate would be a “very significant step forward” that still leaves countries with enough scope to compete to attract multinationals to their jurisdictions.OECD Secretary-General Mathias Cormann made the remarks in an interview with Bloomberg on June 7, which followed a landmark agreement on the tax on June 5 among senior officials from the Group of Seven (G-7) countries, which includes the United States. The G-7 countries agreed to...

Biden's plan to pay for at least $1.4 billion [Trillion?] in new infrastructure spending hinges in large part on garnering backing for a global minimum tax on corporations that increases payments to the Treasury. Establishing a minimum rate could help discourage companies from shifting their profits to countries where they would pay less tax. Saturday's agreement could help accelerate parallel tax negotiations among roughly 140 countries that are being led by the Organization for Economic Cooperation and Development. Ireland, which has successfully recruited global companies -- including big US tech firms -- by offering a corporate tax rate of just...

The Biden administration is proposing a global minimum tax of at least 15% as it looks to level the playing field and stop what Treasury Secretary Janet Yellen has called the "race to the bottom." However, the Treasury Department said that 15% is just the starting point and they will push for that rate to be higher. The initial proposal comes as officials with the Treasury's Office of Tax Policy participated in meetings with officials from 24 nations over the last two days as part of the Organization for Economic Cooperation and Development's international tax negotiations. Treasury Department officials said...

The U.S. is asking other countries to agree to a 15% global minimum corporate tax, as part of international efforts to dissuade companies from seeking lower taxes outside of their home nations, Bloomberg News reported. “A global corporate minimum tax rate would ensure the global economy thrives based on a more level playing field in the taxation of multinational corporations,” the Treasury Department tweeted.

A high-level U.N. panel .. made a series of sweeping recommendations aimed at reforming the global financial system, which includes the implementation of an international corporate tax rate. The High-Level Panel for International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda (FACTI) said a 20% to 30% global corporate tax on profits would “help limit incentives against profit shifting, tax competition and a race to the bottom.” The panel recommends the creation of a body that collects and disseminates data about corporate profits, where the assets of multinational corporations are located, as well as which entities own them,...