Based on Clinton’s past remarks, it appears that he would support the Republicans’ proposed corporate tax rate of 20 percent.
President Trump and Republicans unveiled their tax reform plan on Tuesday, which calls for lowering the corporate tax rate from 35 percent to 20 percent, something that former President Bill Clinton supported just a year ago.
CNBC’s Becky Quick asked Clinton in September 2016 what corporate tax rate would incentivize business growth, asking, “Is it 15 percent? Is it 35? Is it somewhere in-between?”
“I was the president who urged it to be raised to 35 percent,” Clinton admitted to Quick.
Clinton explained that when he made the corporate tax rate 35 percent, it was “precisely in the middle of the OECD countries,” but this rate was no longer in the middle, he said.
“I think it should be lowered,” Clinton told Quick. “We should try to get it as close to the international average as we can, so we’ll be competitive.”
According to the Tax Foundation, the worldwide average for the top corporate income tax rate in 2016 was 22.5 percent. Based on Clinton’s support for a corporate tax rate around the world, he would back the Republicans’ plan to lower the corporate income tax rate to 20 percent.
9.28.17 11:11 amThe NFL Just Lost Its First Sponsor Over Players Kneeling During The National Anthem
“Our companies will not condone unpatriotic behavior!” Cleveland businessman Allan Jones said in a statement.
9.18.17 10:59 amFox News Highlights Media Bias In A CBS Report About Richard Cordray
“CBS Sunday Morning” didn’t disclose that four of the lawyers that it interviewed had ties to the Consumer Financial Protection Bureau.
9.18.17 10:41 amAmericans Overwhelmingly Reject Internet Sales Tax Proposal
Two of three Americans said they oppose a sales tax in their state on items purchased online.
9.14.17 2:07 pmNew NRSC Ad Hits Claire McCaskill for Saying ‘Normal People’ Can Afford a Private Plane
It’s the latest gaffe for the vulnerable senator from Missouri.