After a string of setbacks in Congress, President Donald Trump has decided to go all out on tax reform — now his biggest legislative priority. With a much anticipated plan unveiled on Wednesday, the White House has committed itself to making the US a low tax jurisdiction for big corporations.
The tax “framework” the administration issued on Wednesday calls for a cut in the headline corporate tax rate from 35 per cent to 20 per cent — not as big a reduction as the 15 per cent Mr Trump had promised. But it represents a welcome commitment for businesses that say the present high rate hobbles them against international rivals.
The question the administration has yet to answer is it will how proposes to pay for the sweeping — and potentially historic — changes.
Source: Bloombrg Pro Terminal
Trader I. Ivanov
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