Deep Dive (July 2): 130 Countries Back 15 Percent Global Minimum Corporate Tax: Yellen

Tiffany Meier
By Tiffany Meier
July 2, 2021Deep Dive

Challenges lie ahead for rescue teams in Surfside. Rescue crews are back, searching through the rubble of the Florida condo collapse. They resumed Thursday night, after having to stop for 15 hours over safety concerns. Pressing concerns include the stability of the portion of the building that still stands. The next challenge is the weather. Tropical storm Elsa could hit Surfside as soon as this weekend.

Job growth is picking up steam in America. The economy added 850,000 jobs last month, far more than economists expected. But this comes as the unemployment rate also went up. The unemployment rate rose 0.1 percent to 0.59 percent. Average hourly earnings rose just 10 cents, less than the two months before. And Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations have agreed to a 15 percent global minimum corporate tax—including China and India. Once it takes effect in 2023, it’ll mark the biggest change to the international tax system in a century.

Record numbers of Americans expected to travel this weekend. AAA estimates 43 million people will travel by car—more than even before the pandemic. But this travel weekend comes amid high gas prices. The average gas prices are forecast to stay above the $3 average through the summer.

Tune into Deep Dive as we explore these topics and more.

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