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Senators Propose Corporate Minimum Tax For Build Back Better Plan
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deadline.comCorporations that report more than $1 billion in profits would have to pay at least 15% in tax under a proposal that could end up in the Build Back Better Act, the cornerstone of President Joe Biden’s agenda.The backers of the proposal, Sen.
Elizabeth Warren (D-MA), Sen. Ron Wyden (D-OR) and Sen. Angus King (I-ME) outlined some of the details on Tuesday as Democrats wrangle over how to pay for the Build Back Better Act, which would expand the social safety net and programs to combat climate change.Studios and media companies, along with lobbyists across industries, have opposed Biden’s proposal to raise the corporate tax rate, currently at 21%.
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