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Dem Senator Calls for Lower Corporate Tax Rate

Tom Carper joined a growing chorus of congressional voices that are calling for a lower tax rate for American companies.

Sen. Tom Carper (D-DE), a member of Senate Finance Committee, called for a lower corporate tax rate at a hearing on tax reform efforts on Tuesday.

“I’m all for reducing the corporate tax rate – we’re not competitive with the rest of the world. There needs to be a reduction,” he said at the hearing.

Carper laid out several questions that, he said, will ultimately govern tax code overhaul, but he spoke favorably of reducing the corporate tax rate.

“Usually at this point in time, I would think we’d be interested in addressing corporate tax problems so we’re competitive with the rest of the world, but do so in a way that is fiscally sustainable,” Carper added.

Lowering the corporate tax rate has become a reform priority of President Trump and House Speaker Paul Ryan, with Trump advocating for 15-percent rate, down from the current level of 35 percent.