Tags: 2020 Elections | Donald Trump | Trump Tax Reform | corporate tax rate | fox business | tax cuts | mulvaney

Trump Could Cut Corporate Tax Rate Even Further If Reelected

trump in a suit and blue tie
President Donald Trump (Alex Wong/Getty Images)

By    |   Thursday, 15 October 2020 01:29 PM

President Donald Trump on Thursday said that if he wins reelection, he might cut the corporate tax rate even more than he already has in his first term.

Trump told Fox Business in an interview that he "may bring down the 21% down to 20," which he noted is an "even number."

The Tax Cuts and Jobs Act of 2017 reduced the corporate tax rate from 35% to just 21%.

Trump's comments corroborate what former acting White House chief of staff Mick Mulvaney said in February, when he commented at the Conservative Political Action Conference that Republicans "need to do the second part of the tax bill" and that the president "never liked the fact that the corporate tax is 21%. He always wanted it to be 20."

Democrat presidential nominee Joe Biden has called to raise the corporate tax rate to 28%.

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Politics
President Donald Trump on Thursday said that if he wins reelection, he might cut the corporate tax rate even more than he already has in his first term. Trump told Fox Business in an interview that he "may bring down the 21% down to 20," which he noted is an "even...
corporate tax rate, fox business, tax cuts, mulvaney
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2020-29-15
Thursday, 15 October 2020 01:29 PM
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