House Democrats may propose raising corporate tax rate to 26.5%


WASHINGTON — House Democrats expect to propose raising the corporate tax rate to 26.5% from 21% and imposing a 3 percentage-point surtax on individual income above $5 million, according to a House Democratic aide familiar with the plans.

The tax increases would be part of the House Ways and Means Committee’s plans to pay for the party’s priorities in a fast-moving budget bill. Those items include an expanded child tax credit, a national paid-leave program and renewable-energy tax breaks.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *