Category → Timothy Geithner
February 23rd, 2012
Obama proposes 28-percent corporate tax rate
Treasury Secretary Timothy Geithner presented President Barack Obama's proposal to slash the corporate tax rate from 35 to 28 percent. Photo AP.
President Barack Obama put forward a plan on Wednesday which would slash the country’s
corporate tax rate from 35 percent to a more competitive 28 percent.
The current tax rate for companies is one of the highest in the
world, although the tax code is riddled with a multitude of loopholes
and tax breaks, which means that a large number of U.S. businesses
actually pay a much lower proportion of their profits to the Internal
Revenue Service (IRS).
By The Daily Voter • Posted in Barack Obama, Congress, Corporate tax rate, Dave Camp, Heritage Foundation, House Committee of Ways and Means, Internal Revenue Service, IRS, Obama Administration, OECD, Organization for Economic Cooperation and Development, Orrin Hatch, Senate Committee on Finance, State of the Union address, Tax code, Timothy Geithner • No Comment