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President Joe Biden kicked off a major debate in early April when he proposed raising the corporate tax rate from 21% to 28% to fund his $4 trillion infrastructure plan. Now JPMorgan has weighed in on the matter and it finds corporate tax revenue is lower in the US than elsewhere, even if the rate is now close to the international average.
And as sentiment appears strong in the US that American corporations don’t “pay their fair share,” the bank found that relative to other economies, the US “prioritizes raising tax revenue from details ⇒
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