Corporate Tax

Improve corporate tax price to 30%

Editor, register mail: President Biden’s administration has proposed a grand, bold, and green plan to repair, rebuild, and rebuild 21st century infrastructure worthy of all of us. It’s the largest worker job plan in decades. Engineers, construction workers, linemen, service staff of all kinds are deployed to make this courageous initiative a reality. It is a blueprint to increase economic opportunity and bring our nation back to its leadership position. The United States led the world, but we fell behind. Before that, we invested 2.7 percent of our GDP in infrastructure. Over the past two decades we’ve slashed that to a pathetic 0.7 percent GDP. Our roads, and especially our bridges, have fallen seriously and the dangerous problem of lead poisoning in America from drinking contaminated water from deteriorating lead pipes is unacceptable! We need clean drinking water in households and schools. America deserves better, as do our veterans, many waiting far too long for appointments; We need to modernize veterans’ medical facilities. Suicides in our military ranks are increasing.

Airports, local transport, high-speed trains, expanded internet, a hack-resistant power grid that won’t crash in severe storms are all necessary upgrades that we can produce. Imagine being able to travel through our country on bullet trains like some other nations have. America can have that too. Biden has a plan to generate $ 2.5 trillion in revenue over 15 years by revising corporate tax law, removing tax loopholes, strengthening IRS enforcement, and no longer being able to make tax profits in Protect overseas. Biden’s plan would raise the corporate tax rate from 21 percent to 28 percent, which is lower than before Trump’s 2017 tax cuts, when the tax rate was 35 percent. Treasury Secretary Janet L. Yellen stated, “The plan would end a global” race to the bottom “in corporate taxation that has been destructive to the American economy and its workers. Our tax revenues are at their lowest levels in generations, and if so, if we move on fall down, we will have less money to invest in roads, bridges, broadband, and research and development. “

Companies and companies use all forms of our infrastructure to produce and sell their products and services. They use our highways and back roads, our rail and digital systems, and we are among their customers in order to do their business successfully. Millionaires and billionaires multiply. I believe the corporate tax rate should be raised to at least 30 percent. President Biden stated, “There will be no tax increase for those earning less than $ 400,000 a year.” Support the American Jobs Plan! Better to dismantle! – Trish Voss, Galesburg

Trish Forsyth Voss

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