Tax reform in the United States | 04 June 2021

04 June 2021, USD/JPY

Tax reform in the United States

USDJPY trading plan:

U.S. President Joe Biden offered to scrap his proposed corporate tax hike during negotiations with Republicans, in what would be a major concession by the Democratic president as he works to hammer out an infrastructure deal. Biden offered to drop plans to raise corporate tax rates as high as 28% and instead set a minimum 15% tax rate aimed at ensuring all companies pay taxes, sources said. Biden’s 15% tax floor seeks to stop large, multinational companies like Amazon.com Inc from paying little to no U.S. taxes. Currently many of these companies show large profits on earning statements but shift their liability to more tax-friendly countries.

Investment idea: buy 109.95 and take profit 110.40.

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David Johnson
Analyst of «FreshForex» company
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