The pact supports a minimum corporate tax rate of at least 15% to make it more difficult for companies to avoid paying.
“We’ll be open to good ideas in good faith negotiations," the president said. "We will not be open to doing nothing."
“It is important to work with other countries to end the pressures of tax competition and corporate tax base erosion,” the Treasury secretary said Monday.
The treasury secretary's prediction came as congressional Republicans continue to oppose the bill.
Republicans have proposed a $618 billion offer that the president and treasure secretary say is insufficient.
Yellen previously served as the chair of the Federal Reserve.
It might have something to do with Democrats coming to power.
The former Federal Reserve chair isn’t the candidate climate activists wanted, but her record gives them “a lot to be optimistic and hopeful about.”
The former Federal Reserve chair would be the first woman to hold the influential Cabinet position.
But she's optimistic about a much swifter recovery because the economy was strong before the coronavirus pandemic.