Congress Cleans Up Biden’s Global-Tax Mess Janet Yellen led Europeans to believe the U.S. would endorse an impossible OECD corporate levy. By Joseph C. Sternberg Share Resize ...

The Treasury Department and Congress on Thursday moved to kill a so-called revenge tax that was set to raise taxes on foreign investment and had spooked Wall Street and global business leaders.

It’s previously been estimated a billionaire tax could raise US$250 billion (more than A$380 billion) globally if just 2% of the net worth of the world’s billionaires was taxed each year.