Barack Obama might back territorial tax system: business chief
US tax. Business groups say the trend is the result of the relatively high US tax rate.
TOUGH CHOICES
The notion of trimming the top corporate tax rate is a rare area of agreement between Democrats and Republicans on tax policy, though Republicans want to lower the rate more.
A major hurdle in any tax code revamp would be how to "broaden the base" of taxpayers, which both sides say is needed to help fund a tax rate cut. That would mean making hard choices about scrapping tax deductions, credit and loopholes that some companies hold dear.
Engler said his CEOs would be willing to give up some perks if it meant the corporate tax rate could be cut to 25 percent.
"There are credits for the way you handle depreciation, there are credits on R&D (research and development), there are credits on this type of manufacturing or this type of manufacturing product," he said. "They have to be on the table."
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