New tax proposals could see American multinationals based in Ireland pay tax on it's profits here

It's feared Joe Biden's idea for a minimum tax rate regardless of where companies are based will impact on foreign direct investment here.

It would mean companies would pay additional tax on top of Ireland's corporation tax rate of 12.5%

It's part of a two-trillion dollar infrastructure plan, which was revealed by the US President yesterday:

"It's not a plan to tinker around the edges. It's a once in a generation investment in America, unlike anything we've seen or done since we built the Interstate Highway System and the space race decades ago. In fact, it's the largest American jobs investments since World War Two."

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