A Bipartisan Plan to Cut Corporate Taxes

A Bipartisan Plan to Cut Corporate Taxes
AP Photo/J. David Ake, File

I wonder if Republicans on the House Ways and Means Committee are interested in a bipartisan plan that reduces the corporate tax rate to 15%, makes the code more progressive, doesn't deepen the deficit, and is carefully scored?

Last year, Eric Toder from the Tax Policy Center, an outfit many Republicans don't like, and Alan Viard from the American Enterprise Institute, an outfit many Republicans do like, presented such a proposal. The current code, say Messrs. Toder and Viard, is outdated because it has failed to adjust to four major changes in the economic and policy environment: “(1) the increased globalization of economic activity, (2) corporate tax rate reductions in other countries and their shifts to territorial tax systems, (3) the increased share of business assets in the form of intangible property, and (4) the increased share of economic activity in the United States not subject to the corporate income tax.”

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