ICYMI via The Hill: “Biden should retain these Trump policies to keep America great in 2021”
“Tax reform … its key feature was reducing the corporate income tax from 35 percent to 21 percent. That wasn’t a sop to big business; it simply lowered the corporate tax rate to the level of most countries in the European Union. In other words, it made the U.S. corporate tax rate competitive.
“That one change made the U.S. a more attractive place to locate, or relocate, a company’s corporate headquarters. It’s one of the reasons behind several companies announcing they would be ‘reshoring’ to the U.S.
“Biden campaigned on bringing companies back to the U.S., and yet he wants to raise the corporate income tax rate to 28 percent. Doing so would undermine his goal.
“No Democratic politician would have campaigned on a 21 percent corporate tax rate, but now that Biden has it, he should leave it alone. It will help jumpstart the economy once we beat the pandemic, and he’ll be able to take credit for a strong and growing economy.”
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