Obama Proposes Corporate Tax Cut

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Ben Cohen
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English: Barack Obama

The Obama administration is planning to propose cutting the top tax rate for corporations to 28%, and pay for it by eliminating dozens of tax loopholes companies now use to lower their rates, a senior administration official said.

Chances of a deeply divided Congress revamping a tax system regarded as convoluted across the political spectrum seems remote in an election year, but the announcement on Wednesday is certain to fuel debate in the run-up to November's elections.....Read more.