tax, a concept raised just recently for -- i believe the first time was earlier this week when jean sperling, director of the white house economic council said, we need a global minimum tax so that people have the assurance that nobody is escaping doing their fair share as part of a race to the bottom. and then yesterday i believe in milwaukee the president said something similar, but not exactly the same when he said that from now on every multi national company should have to pay a basic minimum tax and every penny should go toward lowering taxes towards companies that hire in united states of america. this is a concept that is new to me. i'm curious as to whether or not you can shed any light as to what they're talking about, what you're seeking to accomplish, how it would work. just generally what is this global minimum tax we're starting to hear about? >> not as new as you think. when chairman kemp laid out his proposals for corporate tax reform last fall, i think, he proposed a global minimum tax to try to achieve the same objective, to make sure people can't take advantage of tax savi

and i'm going to acknowledge also jean sperling, who doesn't always get the credit he deserves for doingding work. >>> the housing bubble that bust nearly six years ago triggered as we all know the worst economic crisis of our lifetimes. it cost millions of innocent americans their jobs. and their homes. and it remains one of the biggest drags on our economy. last fall, my administration unveiled a series of steps to help responsible homeowners refinance their mortgages to take advantage of historically low rates. and last week, i urged congress to pass a plan that would help millions more americans refinance and stay in their homes. and i indicated that the american people need congress to act on this piece of legislation. but in the meantime, we can't wait. to get things done. and to provide relief to america's homeowners. we need to keep doing everything we can to help them homeowners and our economy. today with the help of democratic and republican attorney generals from nearly every state in the country, we are about to take a major step on our own. we have reached a landmark settle