Both Parties Ready for Corporate Tax Reform

Wednesday, 04 May 2011 12:29 PM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The debate over corporate tax reform is about to begin in earnest. The White House plans to launch a proposal on the issue this month or next, Politico reports.

The good news is that this appears to be an issue ripe for bipartisan cooperation. Both parties agree that the top corporate tax rate of 35 percent, which is almost the highest in the world, should be cut. But they also agree that loopholes and exemptions should be dumped. Those benefits now allow some major companies to escape taxes all together.

Reform along these lines “would send a reassuring signal to the economy and is something both parties should support in theory,” a senior administration official told Politico. But he pointed out that some companies will fight specific points of a bill tooth and nail.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Send me more news as it happens.
 
 
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Top Stories

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved