Finance

Former top Trump economic advisor said he supports Biden's 28% corporate tax rate in resurfaced video

14 days ago   |   By Business Insider

Summary List Placement There's an unlikely supporter of President Joe Biden's proposed 28% corporate tax rate: A former top advisor to President Donald Trump, who served as the architect of his 2017 tax law that cut the rate all the way down from 35% to 21%.
On Wednesday, a video resurfaced of Gary Cohn - formerly the National Economic Council director under Trump - saying he backs a corporate tax increase. It was posted by the Center for American Progress, a liberal-leaning think tank.
"I'm actually okay at 28%. The level we got to in our tax plan on the corporate side was actually a bit...
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Biden's corporate tax rate hike could kill millions of jobs, business group's study finds

Biden's corporate tax rate hike could kill millions of jobs, business group's study finds

14 days ago   |   By RT

New research from the US National Association of Manufacturers found that about one million jobs would be lost in the first two years if the corporate tax rate increased to 28% and other policies went into effect.
The study , which was conducted by Rice University economists for the NAM, calculated the impact of increasing the corporate tax rate. It said that global domestic product would be down $117 billion by 2023, $190 billion in 2026, and $119 billion in 2031.
Under the plan, announced by the US Treasury Department, the corporate tax rate could be raised to 28% from the current 21%...
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Top US CEOs Open to Corporate Tax Rate of 28%, Biden Says Trump Cuts Failed

Top US CEOs Open to Corporate Tax Rate of 28%, Biden Says Trump Cuts Failed

14 days ago   |   By Newsweek

White House aides and U.S. business lobbyists say Biden will likely compromise to increase the corporate tax rate to 25%.
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