Obama Proposes Corporate Tax Reform to Pay for Infrastructure
The president's proposal would reduce the top corporate tax rate, eliminate loopholes and use the one-time revenue to pay for roads, transit and other transportation systems.
President Obama is proposing an overhaul of the corporate tax structure as part of a plan to generate revenue that would could be used to invest in infrastructure.
The president's proposal would reduce the top corporate tax from 35 percent to 28 percent while simplifying it and eliminating loopholes. New, one-time revenue created during the transition could then be put towards infrastructure investment, as well as workforce training and manufacturing, according to an outline of the plan released by the White House Tuesday.
Obama will tout the initiative during an afternoon speech at an Amazon.com facility in Chattanooga, Tenn.
Ostensibly, the deal represents something of a compromise: in exchange for lowering taxes, something Republicans want, one-time revenues could be put towards infrastructure, schools and manufacturing hubs, which would be attractive to Democrats.
View Full Story
Join the Discussion
After you comment, click Post. You can enter an anonymous Display Name or connect to a social profile.
Judge Halts Enforcement of New Louisiana Abortion Law3 hours ago
Municipalities Worry Time-Warner Deal Will Hurt the Poor's Internet Access2 hours ago
Christie Silent on Immigration Before Mexico Trip2 hours ago
State to Start Charging People to View Public Documents Online2 hours ago
Minnesota Joins States with Free All-Day Kindergarten2 hours ago
The Week in Public Finance: D.C. Interference, Let's Make a Deal and Urban Poverty3 days ago