Conservative Groups Push for Corporate Tax Rate of 20 Percent

Twenty-six conservative groups are calling on a House-Senate conference committee to set the corporate tax rate at 20 percent, The Hill is reporting.

The groups include Club for Growth, FreedomWorks and Grover Norquist's Americans for Tax Reform, according to the website. They noted both the House and Senate tax bills had cut the corporate rate from 35 percent to 20 percent.

"The United States currently has the highest corporate tax rate in the developed world — dropping that rate to 20 percent will spur American competitiveness, increase wages and deliver the relief middle-class taxpayers deserve," the groups wrote in a letter Friday.

"The U.S. House of Representatives passed a tax cut bill with this exact rate cut. The U.S. Senate passed a tax cut bill with this exact rate cut. We strongly urge the conference committee to report a tax cut bill with this exact rate cut."

But the possibility of setting that rate at 22 percent has surfaced recently, Politico reported.

"There's a lot of conversation about corporate rates, we're trying to keep it at 20 percent," Senate Finance Chairman Orrin Hatch, R-Utah, told the website. "The president would like it lower than that and so would I, but the 22 percent keeps cropping up so it's a viable thing."

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