By Isabel Gottlieb and Laura Davison

President Joe Biden is proposing to unwind many of the corporate tax changes in President Donald Trump’s 2017 tax law. Companies could end up collectively paying hundreds of billions of dollars more in taxes in the coming years. Key to the Biden proposal is the imposition of a new global minimum tax to address a longstanding issue -- the ability of multinational corporations to greatly reduce what they owe the U.S. government.