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Treasury Secretary Janet Yellen is in talks with other countries to include the U.S. R&D tax credit in the 15% global minimum tax deal. Yellen expressed hope for successful negotiations during a hearing before lawmakers in the House of Representatives. She assured members of the House Ways and Means Committee that she will keep them informed about the progress of negotiations on this and another pillar of the OECD tax deal. Yellen dismissed claims from Republican Congress members that the global minimum tax would disadvantage American companies, stating that the adoption of both pillars of the OECD deal would likely be slightly revenue positive in the long term. She emphasized that the 15% global minimum tax is in support of the country's goals. Yellen also reiterated President Joe Biden's commitment not to raise taxes on households earning less than $400,000 per year. "We are negotiating with other countries right now to try to get favorable treatment for the R&D tax credit and I am hopeful these negotiations will be successful," said Yellen.