On 28 March 2022, U.S. President Joe Biden released the Fiscal Year 2023 Budget. Alongside the Budget, the U.S. Department of the Treasury published the so-called Greenbook, providing further detail on the Budget revenue proposals. The proposed revenue measures as summarized by the Treasury Department include:
- Reform Business and International Taxation
- Raise the Corporate Income Tax Rate to 28%
- Adopt the Undertaxed Profits Rule
- Provide Tax Incentives for Locating Jobs and Business Activit…