Both parties agree that corporate tax rate should be cut
(MCT) — WASHINGTON — As President Barack Obama and congressional Republicans wrangle over tax increases and spending cuts, they can agree on something: They want to lower the corporate tax rate.
The U.S. has the highest overall rate of any of the world’s developed economies. It took the top spot in March after Japan reduced its rate, mimicking other countries that have lowered taxes to lure new businesses and keep existing companies from leaving.
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