US House Democrats considering a 26.5% corporate tax rate
Wall Street Journal report on what is expected ahead from House Democrats
- expect to propose raising the corporate tax rate to 26.5% from 21%
- 3% surtax on individual income above $5 million
- a House Democratic aide familiar with the plans.
I was tempting fate with this post:
ADDED, Washington Post have more and it be more accessible (ie not gated, WaPo often is but it seems to be ungated for now), link here
- want corporate tax rate raised to 26.5% only for firms with >$5 m income
- for firms with income under $400K they want to lower the rate from 21% to 18%
- those b/w $400K-$5M would see rate flat at 21% as currently
ADDED further, this via Bloomberg report:
- Democrats are also proposing a 3% surtax on individuals with adjusted gross income in excess of $5 million and to treat cryptocurrency the same as other financial instruments, raising an estimated $16 billion.