US House Democrats considering a 26.5% corporate tax rate

Author: Eamonn Sheridan | Category: News

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
WSH cite:
  • a House Democratic aide familiar with the plans.
Also are considering raising the minimum tax on U.S. companies' foreign income to 16.5% from 10.5% and increasing the top capital-gains tax rate to 28.8% from 23.8%. L

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I was tempting fate with this post:
A tax hike (even just these murmurings) might very well put a dampener on the rise.  
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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.

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