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President Biden is proposing to raise the federal tax rate on corporations from 21% to 28%. That's below the 35% rate that was in place prior to the tax law signed by President Donald Trump in 2017. But Republicans say that an increase to 28% would leave the United States at a competitive disadvantage to other nations with lower corporate tax rates.
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President Biden is proposing to raise the federal tax rate on corporations from 21% to 28%. That's below the 35% rate that was in place prior to the tax law signed by President Donald Trump in 2017. But Republicans say that an increase to 28% would leave the United States at a competitive disadvantage to other nations with lower corporate tax rates.
Reporter : Paul SpechtPosted 2021-04-07T16:49:22-0400 - Updated 2021-04-07T16:49:22-0400