June 26, 2017

Bloomberg: Corporate Tax Rate at 28% Seen as More Likely Than Historic Cut

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Both men have pitched their rate-cut plans as a way to spur hiring and economic growth. But setting a 28 percent tax rate would be largely meaningless for more than 150 of the largest U.S. companies, which already paid lower rates than that from 2008 through 2015, according to a recent study.

The companies took advantage of features of the tax code that allow for aggressive tax avoidance as well as tax “subsidies,” according to a March 2017 report by the Institute on Taxation and Economic Policy, which gathered data from public disclosures. If Congress does close loopholes to pay for a lower rate, many such breaks would disappear. Read more



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