Yahoo! Finance: Ex-Trump adviser Gary Cohn would back Biden’s proposed 28% corporate tax rate

The Trump administration’s tax overhaul has come under criticism given persistent loopholes that allow corporations to drive the effective rate well below the statutory level. In 2018, the work arounds helped a group of 378 consistently profitable Fortune 500 companies to pay an average federal rate of 11.3% on their 2018 income, according to a report from the Institute on Taxation and Economic Policy (ITEP), a non-partisan think tank. Read more