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Corporate tax plan to be released

Associated Press

  February 22, 2012

The Obama administration will propose lowering the current 35 percent corporate tax rate, while at the same time eliminating loopholes and subsidies and imposing a minimum tax on the overseas profits of American companies. Administration officials said the Treasury Department on Wednesday will detail aspects of President Barack Obama’s proposed overhaul of the corporate tax system, a plan he broadly outlined in his State of the Union speech last month.

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