The U.S. is the most lucrative market for drugmakers, but they often pay more in taxes overseas. Jim Watson/AFP via Getty Images hide caption
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Treasury Secretary Janet Yellen speaks to the press during the COP26 U.N. Climate Summit in Glasgow, Scotland, on Wednesday. In an interview with NPR's Morning Edition, Yellen said she expects inflation will moderate by next year. She also called on the private sector to do more to fight climate change. Paul Ellis/AFP via Getty Images hide caption
Treasury Secretary Janet Yellen says she's confident inflation will ease next year
Finance officials of the Group of Seven nations and multilateral agencies pose for a photo in London on Saturday ahead of the G-7 leaders' summit. Henry Nicholls/AP hide caption
A view of Amazon's headquarters in Luxembourg. The online retail giant on Tuesday prevailed at the European Union's second-highest court in a major tax case. Emmanuel Dunand/AFP via Getty Images hide caption
U.S. Secretary of Transportation Pete Buttigieg speaks to Amtrak employees Feb. 5 during a visit at Union Station in Washington, D.C. In a Thursday interview with NPR's Morning Edition, he said not making infrastructure investment would be a "threat to American competitiveness." Alex Wong/Getty Images hide caption
Buttigieg Says $2 Trillion Infrastructure Plan Is A 'Common Sense Investment'
People enter an Apple Store at in Glendale, Calif., on June 23.The second-highest court in the European Union says Ireland's tax break for Apple did not represent an unfair advantage. Robyn Beck/AFP via Getty Images hide caption
For craft breweries, the Senate's tax code overhaul could be very good for business. The plan includes a provision that would save alcohol producers $4.2 billion from 2018 to 2019. Scott Olson/Getty Images hide caption
In 2012, Republican Gov. Sam Brownback of Kansas pushed reforms through the Legislature that included across-the-board income tax reductions. But rather than boosting the economy, the cuts caused revenues to plummet. Lawmakers now seek to close a $900 million budget gap over the next two years. Charlie Riedel/AP hide caption
Treasury Secretary Steven Mnuchin briefs reporters on President Trump's tax plan at the White House on April 26. Carolyn Kaster/AP hide caption
A statue of former Treasury Secretary Albert Gallatin stands guard outside the Treasury Building in Washington. Trump's campaign plans for a total overhaul of the U.S. tax code — while maintaining the revenues flowing into the federal government — may have missed their chance in Congress. Jacquelyn Martin/AP hide caption
Some Tax-Cut Backers Urge Trump To Drop Full Overhaul, Go For Quick Win
President Trump, during his campaign, and House Speaker Paul Ryan have proposed reducing the number of tax brackets and lowering corporate tax rates. Zach Gibson/Getty Images hide caption
President Trump delivers opening remarks during a meeting with (from left) Wendell Weeks of Corning, Alex Gorsky of Johnson & Johnson, Michael Dell of Dell Technologies and other business leaders in the Roosevelt Room at the White House on Monday. Chip Somodevilla/Getty Images hide caption
President-elect Donald Trump speaks with technology leaders at Trump Tower in New York. Albin Lohr-Jones/Bloomberg/Getty Images hide caption
President-elect Donald Trump stands outside the clubhouse following his meeting with Peter Kirsanow, an attorney and member of the U.S. Commission on Civil Rights, at Trump International Golf Club, Sunday in Bedminster, N.J. Drew Angerer/Getty Images hide caption
President-Elect Trump Plans To Slash Taxes On Businesses — Including His Own
The Pfizer flag flies in front of its world headquarters in New York. Pfizer and Dublin-based Allergan will merge, creating the world's biggest drug-maker by sales. Mark Lennihan/AP hide caption
A an employee works at Amazon's fulfillment center in Rugeley, central England, in 2012. President Obama wants Amazon and other U.S. companies to bring more of their overseas earnings home. Phil Noble/Reuters/Landov hide caption
U.S. Treasury Secretary Jacob Lew has announced rules aimed at discouraging U.S. companies from moving their headquarters overseas to cut their tax bills. Win McNamee/Getty Images hide caption