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Corporate Tax Rate Spurs Political Fight With More Than $1 Trillion at Stake
Tags: Current Focus, Early Warning, Climate Change Action, United States, Banks / Insurance, Renewable Energy, Capital Markets, The Economy, Inequality / Upward Mobility, Movement for Renewal of America, Health, Education, Climate, 1. Climate Change Action, 2. Cost of Living Action, 3. Income and Wages Fairness, 5. Bringing Jobs and Factories to the US, 6. Capital Allocation for Infrastructure, Goods and Services, 7. Democracy Support Action, 8. U.S. Investment by Government+ Private, 9. The Movement for Global Literacy, 10. Health- Body/Mind Wellbeing for All ,
The difference between the 21% tax rate down form 35% put in place in 2017 and the proposed tax rate of 28% by Democrats is $1 trillion over 10 years. The corporate tax rate generates only 8% of government revenues and Lael Brainard thinks this is too low for investment that the government needs to make in climate change action, infrastructure, manufacturing, healthcare, childcare, education and other priorities neglected by different administrations over the last three decades, that are vital to rebuilding America.
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