‘Every time, it’s messy:’ US again approaching debt ceiling

The US Congress will learn on Wednesday when the federal government will likely run out of money to pay its bills, setting the stage for the latest in a long series of fights over what is known as the debt ceiling.

A failure by Democrats and Republicans to work out differences over whether government spending cuts should accompany an increase in the statutory debt limit, currently set at $28.5 trillion, could lead to a shutdown of the federal government

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Tax reform tops agenda as G20 finance chiefs meet in Venice

Finance ministers and central bankers from the group of 20 rich countries will meet face to face on Friday for the first time since the start of the COVID-19 pandemic at a gathering in Venice where corporate tax reform will top the agenda.

The G20 is expected to give its political endorsement to plans for new rules on where and how much companies are taxed which were backed last week by 130 countries at the Paris-based Organisation for Economic Cooperation

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Janet Yellen’s next test: Persuading G20 that U.S. Congress will not block tax deal

U.S. Treasury Secretary Janet Yellen was able to help corral 130 countries to agree to a major revamp of international corporate taxation, but showing them she can bring a deeply divided U.S. Congress on board may prove equally challenging.

Yellen is expected to face questions from G20 finance leaders at a meeting in Venice, Italy, this week about how the Biden administration will win legislative approval to increase the U.S. corporate minimum tax rate and implement new rules that would

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