Tags: Economic- Crisis | corporate | tax | reform | Republicans | Democrats

Both Parties Ready for Corporate Tax Reform

By Dan Weil   |   Wednesday, 04 May 2011 12:29 PM

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.

© 2015 Newsmax. All rights reserved.

1Like our page
2Share
US
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...
corporate,tax,reform,Republicans,Democrats
134
2011-29-04
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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