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Made In America Tax Plan.pdf

MadeInAmericaTaxPlan_Report.pdf
Preview of Made in America Tax Plan
🔗 Source: home.treasury.gov
📊 Size: 579 KB
📄 Pages: 19 pages
⬇️ Downloads: 181

Summary

President Biden's Made in America tax plan aims to make US companies more competitive by eliminating offshore investment incentives, reducing profit shifting, and countering tax competition, while generating new funding for infrastructure, research, and manufacturing investments. The plan reorients corporate tax revenue towards historical and international norms, addressing flaws in the current system, including low effective tax rates, profit shifting, and distortive incentives. Key elements include raising the corporate income tax rate to 28%, strengthening the global minimum tax, and introducing a 15% minimum tax on book income of large companies. The plan also promotes clean energy production, reduces fossil fuel subsidies, and increases enforcement to address corporate tax avoidance.

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Description

President Biden's Made in America tax plan aims to make US companies more competitive by eliminating offshore investment incentives, reducing profit shifting,...

Technical Information

  • File Format: PDF
  • File Size: 579 KB
  • Pages: 19
  • Language: EN
  • Total Downloads: 181
  • Last Updated: 3 weeks ago

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