6. The US taxation of international transactions has been a hot bottom item for decades. Briefly explain the US taxation of US and Foreign Corporations doing business in foreign jurisdictions prior to TRA 2017.

Briefly summarize the international tax changes implemented under TRA 2017 and what these changes were intended to accomplish.

Briefly explain the Biden Administrations proposed worldwide minimum tax and what this proposal hopes to accomplish.

In your opinion, which is better tax policy, the TRA 2017 or the Biden Administration proposal with regards to taxation of international transactions.