Factbox: Yellen to negotiate multilateral tax deals, study SALT deduction

WASHINGTON (Reuters) – U.S. Treasury nominee Janet Yellen underscored on Thursday the Biden administration’s intent to remake tax and trade policy after making domestic investments on workers and infrastructure in written answers to senators’ questions.

The Senate Finance Committee plans to consider her nomination for Treasury Secretary for 10 a.m. EST on Friday, potentially paving the way for confirmation by the full Senate later in the day.

Following are some of Yellen’s written responses to additional questions from committee members, according to copy of the responses obtained by Reuters:

INTERNATIONAL TAX DISPUTES: “We are committed to the cooperative multilateral effort to address base erosion and profit shifting through the OECD/G20 process, and to working to resolve the digital taxation disputes in that context.”

STATE LOCAL TAX DEDUCTION: “It is critical to study and evaluate what the impact of the SALT cap has had on state on local governments, and those who rely upon their services. I will work with those at Treasury and throughout the administration in evaluating those impacts, as well as other aspects of this issue.”

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