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Trump tax reform eyes big cuts in corporate rates

EconomyApr 26, 2017 08:12AM ET
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Investing.com - President Donald Trump’s tax reform is expected to eye big cuts to corporate rates.
The Trump administration is expected Wednesday to unveil its overhaul of the tax code.
The plan is seen targeting a cut in the top-rate on pass-through businesses to 15% from 39.6%.
The rate for public corporations would also be slashed to 15% from 35%, an administration official said Tuesday.
Multinationals would also be allowed to repatriate overseas profits at a rate of 10%, down from 35% currently.
The top personal income tax rate may also be capped at 33%.
The plan does not include proposals advanced by some Republicans for a “border-adjustment” import tax to offset revenue losses.
Treasury Secretary Steven Mnuchin has argued that the tax cuts will pay for themselves by generating higher revenues on increased growth.
But some Republicans and Democrats argue the overhaul could swell the federal deficit.
A senior White House official said Trump would like Congress pass the plan by the middle of the fall.

Trump tax reform eyes big cuts in corporate rates
 

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Raj Ratan Mohanty
Raj Ratan Mohanty Apr 26, 2017 2:28PM GMT
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Robert Bernard Reich google him... You may be able to crack the logic behind this tax code....
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Stanley Linzer
Stanley Linzer Apr 26, 2017 2:25PM GMT
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Yeah what about the labor force
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Russ Jabara
Russ Jabara Apr 26, 2017 1:17PM GMT
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What about tax cuts for us working stiffs. Cmon I voted for Trump.
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Raj Ratan Mohanty
Raj Ratan Mohanty Apr 26, 2017 2:27PM GMT
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Robert Bernard Reich ... Google him.... I think you will be able to solve what's going on.... Tough break dear...
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Raj Ratan Mohanty
Raj Ratan Mohanty Apr 26, 2017 2:29PM GMT
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Robert Bernard Reich
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