by Tyler Durden at ZeroHedge
Update (1705ET): Moderate Sen. Democrat Kyrsten Sinema of Arizona is on board with the new corporate minimum tax.
“The proposal represents a commonsense step toward ensuring that highly profitable corporations – which sometimes can avoid the current corporate tax rate – pay a reasonable minimum corporate tax on their profits…” said Sinema In a Tuesday statement.
Statement on Proposed Corporate Minimum Tax pic.twitter.com/tRLMDXLgot
— Kyrsten Sinema (@SenatorSinema) October 26, 2021
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Three key Senate Democrats have unveiled a new plan to enact a 15% minimum corporate tax on declared income of large corporations, according to CNBC.
The proposal, released Tuesday by Sens. Elizabeth Warren (MA), Angus King (ME) and Senate Finance Committee Chair Ron Wyden (OR), would be included as a source of revenue to help fund the Democrats’ massive “Build Back Better” package. It would apply to approximately 200 US corporations…Continue Reading