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

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. The ...