Corporate income tax rate

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The corporate income tax rate in the United States is currently 35 percent. A House bill passed in November 2017 would lower that rate to 20 percent, if the Senate agrees.

  • The Trump administration argues that dropping corporate taxes would keep more money in the U.S., increase investment, create jobs, and in the long run help the economy.[1]
  • When business taxes are reduced, 70 percent of the benefits go to the wage-earning middle class.[2]

References

  1. Forbes: Trump's Corporate Tax Slash Ignores How Little Companies Already Pay
  2. Three Easy Pieces: A Simple, Get-It-Done-Now Economic Plan - by Larry Kudlow