Corporate Tax

Vital adjustments to company tax by methods and means proposed

House Committee on Ways and Means Chairman Richard Neal has proposed 25 new tax policies that would increase taxes on U.S. corporations by $ 963.6 billion over the next decade. In a new finding, Fiscal Policy Director Gordon Gray analyzes the key proposals.

Important points:

  • Eighty-seven percent of that revenue came from 5 major changes to the corporate income tax law.
  • The proposal to raise the US corporate tax rate by 5.5 percentage points brings by far the most revenue of any business tax increase proposed by the committee.
  • While the outlook for this tax package and the Reconciliation Act in general is uncertain, the direction of tax policy under this proposal is clear: over the next decade, taxes on U.S. corporations would rise by nearly $ 1 trillion.

Read the analysis

Related Articles