Even after Biden tax hike, U.S. firms would pay less than foreign rivals

Posted on AllSides June 22nd, 2021
From The Center
taxes, corporate taxes

U.S. companies pay less income tax than their overseas competitors and would likely continue to do so under a tax hike proposed by President Joe Biden, according to a Reuters analysis of filings by hundreds of U.S. and international firms.

The analysis undercuts arguments by some company executives and trade groups that Biden’s plan would leave U.S. firms paying some of the world’s highest taxes and struggling to compete against foreign rivals. Industry representatives have aggressively lobbied against the proposal, which would increase the corporate tax rate to 28%, from the...

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https://www.reuters.com/world/us/even-after-biden-tax-hike-us-firms-would-pay-less-than-foreign-rivals-2021-06-22/

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