White House Wants To Cut Corporate Tax Rate
By: Big 2 News Staff
Updated: February 22, 2012
WASHINGTON, DC -- The Obama administration will unveil its method to overhaul the corporate tax code.
It would lower the top rate from 35-percent to 28-percent.
More total revenue would be produced by tossing "dozens of tax loopholes and subsidies" and creating a minimum rate on foreign earnings.
Treasury Secretary Timothy Geithner will introduce the tax reform game plan at 11:30 this morning, Eastern time.
Many economists generally agree that the corporate tax rate is too high and American competitiveness suffers as a result.
It would lower the top rate from 35-percent to 28-percent.
More total revenue would be produced by tossing "dozens of tax loopholes and subsidies" and creating a minimum rate on foreign earnings.
Treasury Secretary Timothy Geithner will introduce the tax reform game plan at 11:30 this morning, Eastern time.
Many economists generally agree that the corporate tax rate is too high and American competitiveness suffers as a result.
