Advertisement Continue reading the main storyBut Mr. Trump’s decision to extend the corporate tax cut to real estate conglomerates like his own will give Democrats a tailor-made line of attack. “Yesterday, we learned President Trump wants to slash the corporate tax rate, even though corporations already dodge most of their tax responsibilities while making record profits,” said Frank Clemente, executive director of the liberal Americans for Tax Fairness. Government officials crafting the tax plans are aware of the math problem, one of the people involved in the proposal said, but they see the 15 percent corporate tax rate as a compelling starting point for negotiations. But Mr. Cornyn described Mr. Trump’s plan to cut the corporate income tax to 15 percent as “pretty aggressive,” with unknown consequences for the deficit. A Tax Foundation analysis concluded this week that, on its own, a 15 percent corporate tax rate would reduce federal revenue by about $2 trillion over a decade.

Source: New York Times April 26, 2017 01:03 UTC