WASHINGTON (AP) — By slashing corporate tax rates, the Trump administration said Monday, the average U.S. household will get an estimated $4,000 more a year. This stunning 5 percent increase is likely to be met with skepticism from tax experts and Democratic lawmakers. Spread across every U.S. household, the White House analysis claims it would generate "conservatively" an income jump totaling $504 billion, or about $200 billion more than the revenues currently generated by the corporate income tax. With this new report, the White House is making a populist argument for its proposal to cut the 35 percent corporate tax rate to 20 percent.
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By JOSH BOAK, AP Economics Writer, San Francisco Chronicle: Politics
Mon, 10/16/2017 - 2:48am
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