Just like Trump. Off the top of the head piffle.Donald Trump’s Proposal to Lower the Corporate Tax Rate to 15%
Sep 6, 2024President Trump recently proposed lowering the corporate tax rate from 21 to 15 percent for corporations that make their products in America. Under one possible structure, we estimate this could reduce revenue by about $200 billion through Fiscal Year (FY) 2035.
Lowering the corporate tax rate to 15 percent for all corporations would reduce revenue by about $460 billion to $675 billion through FY 2034. While President Trump’s proposal to apply this cut more narrowly lacks important details, one option would be to structure it like the Section 199 domestic production activity deduction that was in place from 2004 to 2017. We estimate that applying this change instead of lowering the rate for all corporations would reduce revenue by about one-third as much.
