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Finance ministers from the world's 20 largest economies backed a proposal on Saturday that seeks to introduce an international tax on multinational companies and sets a global minimum tax rate of 15%, Politico reports.

Why it matters: If enacted, the reform could alter who gets to tax multinational corporations and "stop multinationals from shifting profits into tax havens," Politico reports.

What they're saying: "After many years of discussions and building on the progress made last year, we have achieved a historic agreement on a more stable and fairer international tax architecture," the finance ministers from the G20 club, who met at a summit in Venice on Saturday, wrote in a statement.

  • "This is a victory for tax fairness, for social justice and for the multilateral system. But our work is not done ... I am optimistic that we will be able in that time also to reach a consensus among all European Union Member States on this crucial issue," said Paolo Gentiloni, the European commissioner for the economy, per Politico.
  • Some EU countries, such as Hungary, remain opposed to the deal.

What's next: Final approval of the deal is not expected until the G20 leaders' meeting in Rome in October, and some details still need to be worked out before then.

Transcripts show George Floyd told police "I can't breathe" over 20 times

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Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.

Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.

The state of play: The transcripts were released as former officer Thomas Lane seeks to have the charges that he aided in Floyd's death thrown out in court, per the Times. He is one of four officers who have been charged.

  • The filings also include a 60-page transcript of an interview with Lane. He said he "felt maybe that something was going on" when asked if he believed that Floyd was having a medical emergency at the time.

What the transcripts say:

  • Floyd told the officers he was claustrophobic as they tried to get him into the squad car.
  • The transcripts also show Floyd saying, "Momma, I love you. Tell my kids I love them. I'm dead."
  • Former officer Derek Chauvin, who had his knee on Floyd's neck for over eight minutes, told Floyd, "Then stop talking, stop yelling, it takes a heck of a lot of oxygen to talk."

Read the transcripts via DocumentCloud.