Geithner: President Obama Seeks 28 Percent Corp. Tax Rate

By: Associated Press
By: Associated Press

Stay up-to-date with KAKE News:

Wednesday, February 22, 2012

President Barack Obama says the current corporate tax system is outdated, unfair and inefficient. He is calling for an end to dozens of subsidies and loopholes that he says offer tax breaks to companies that move jobs and profits overseas.

The president says the current system is "not right and it needs to

The Obama administration is proposing cutting corporate tax rates from 35 percent to 28 percent. That is still higher than the 25 percent rate sought by congressional Republicans.

President Obama said in a statement Wednesday that his framework lowers the corporate tax rate and broadens the tax base and will increase competitiveness for companies across the U.S.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KAKE TV 1500 N. West Street Wichita, KS 67203-1323 (316) 943-4221
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 140011893 -
Gray Television, Inc.