Senate Dems to Push for 25% Corporate Tax Rate

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The uni­verse of Demo­c­ra­t­ic sen­a­tors con­cerned about rais­ing the cor­po­rate tax rate to 28% is broad­er than Sen. Joe Manchin, and the rate will like­ly land at 25%, par­ties close to the dis­cus­sion tell Axios.Why it mat­ters: While increas­ing the rate from 21% to 25% would raise about $600 bil­lion over 15 years, it would leave Pres­i­dent Biden well short of pay­ing for his pro­posed $2.25 tril­lion, eight-year infra­struc­ture package.Biden’s plan to increase the rate U.S. multi­na­tion­als pay on their for­eign earn­ings from 10.5% to 21% is less con­tro­ver­sial and stands a bet­ter chance of remain­ing intact in the final leg­is­la­tion. That would raise an …

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