Last week, Japan lowered its corporate tax rate, giving the U.S. the dubious distinction of holding the highest corporate tax rate in the world.
While the rest of the developed world has been steadily lowering their tax burdens on corporations, the United States rate has stayed the same since 1986, putting U.S. based companies at a competitive disadvantage to their foreign counterparts.
The U.S. rate stands at 39.2%, almost 15 percentage points higher than the average of other Organization for Economic Cooperation and Development nations, a group of 34 high-income, democratic, market-driven economies.
As part of the budget plan passed last month, House Republicans want to lower the corporate tax rate to 25%; however, the Obama administration is proposing a rate of 28%.
Question of the Week: What do you think the U.S. Corporate tax rate should be?
Home | Contact | Unsubscribe | Privacy | Office Locations
Please do not reply to this message. This email address does not accept incoming messages. To send an email, click here.
Trouble viewing this email? See it in your web browser: http://forbes.house.gov/news/email/show.aspx?ID=Z6SFT6MTCMXU65HASFSU3KBMRY