Obama plan would cut corporate tax to 28%
Quick ReadTreasury Secretary Timothy Geithner said Wednesday the current business tax system is bad for business and for job-creation and argued that President Barack Obama's plan to reduce corporate tax rates to 28 percent would make the tax system more globally competitive.
Photo credit: Getty Images | U.S. Treasury Secretary Timothy Geithner. (Feb. 16, 2012)
President Barack Obama rolled out a corporate tax overhaul plan yesterday that lowers rates but also eliminates loopholes and subsidies cherished by the business world. A long shot for action in an election year, the plan nevertheless stamps Obama's imprint on one of the most high-profile issues of the presidential campaign.
The president's plan to lower the corporate tax rate to 28 percent...
