White House's Kudlow floats cutting US corporate tax rate in half

White House's Kudlow floats cutting US corporate tax rate in half

White House Economic Adviser Larry Kudlow on Friday floated the idea of cutting the corporate tax rate in half for U.S. companies who bring their operations back from other countries.

Larry Kudlow participates in coronavirus economic "relief update" virtual event at the Wh
Larry Kudlow participates in coronavirus economic "relief update" virtual event at the White House in Washington

WASHINGTON: White House Economic Adviser Larry Kudlow on Friday floated the idea of cutting the corporate tax rate in half for U.S. companies who bring their operations back from other countries.

"Why not provide a 50per cent discount for the corporate tax rate if you're moving from outside the U.S. to the U.S.?" Kudlow told reporters at the White House, emphasizing that this was a thought, not a policy.

"So, the rate is 21per cent. Why not try for a couple of years or longer, a 10.5per cent rate - which would make us extremely competitive and hospitable to new investments here?"

(Reporting by Lisa Lambert, Editing by Franklin Paul)

Source: Reuters

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