added a clutch of former Obama administration officials to her leadership circle who have extensive tax, legal, and international economics backgrounds.
Yellen is expected to push for broad changes to global tax enforcement and regulation, with the personal blessing of Biden, a person with direct knowledge of the matter. Biden is seeking sharper enforcement of existing laws to reduce income inequality and to pay for spending proposals, the person said.
Over a dozen countries have imposed unilateral taxes on such digital services. Biden has argued that large tech companies sometimes shoulder too small a tax burden. His administration is also considering new guidance to the Internal Revenue Service, sanctions targeting tax havens, and synchronizing the US tax approach with other countries, according to the person familiar with the matter.
The tax act passed by Trump and Republicans in late 2017 slashed corporate taxes by 40%, and the reduced revenue contributed to a wider federal deficit.Lipton, who was the No. 2 official at the IMF for over 8 years, and led the institution's policy development, is expected to assist Yellen with outreach to US allies on economic policy matters and coordination of G20 and G7 finance meetings and summits, people familiar with his appointment said.
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