G7 finance ministers agreed backed earlier this month a global minimum tax rate of at least 15% and thresholds for divvying up governments' rights to tax the profits on cross-border commerce.
The US commitment to a global minimum tax also could help jump-start negotiations between wealthy countries on taxing international corporations, according to tax experts.
We are working with G20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom.
The draft also envisages support for restaurant and cafe employees in April and May following the imposition of new restrictions aimed at curbing the spread of the coronavirus.