Contact Us
Make My Homepage

U.S. Treasury to Release Corporate Tax Plan

U.S. Treasury Secretary Timothy Geithner (Alex Wong, Getty Images)

A senior administration official says that the Treasury Department plans to release information about its forthcoming plan to overhaul the corporate tax system on Wednesday.

Administration officials including Treasury Secretary Timothy Geithner have been saying for some time that they would soon release broad principles about its plan.

The top corporate tax rate is 35 percent, second highest in the world behind only Japan. Few companies pay that rate because they take advantage of tax breaks.

Geithner told Congress last week that the administration would propose eliminating some tax breaks.

Obama has said he would lower the tax rate but used no figures. He has said he would eliminate deductions for U.S. companies that move jobs or profits overseas.

The official spoke on condition of anonymity to describe administration plans.

 

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

Best of the Web


Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!