US House Democrats considering a 26.5% corporate tax rate

Wall Street Journal report on what is expected ahead from House Democrats

  • expect to propose raising the corporate tax rate to 26.5% from 21%
  • 3%  surtax on individual income above $5 million
WSH cite:
  • a House Democratic aide familiar with the plans.

Also are considering raising the minimum tax on U.S. companies’ foreign income to 16.5% from 10.5% and increasing the top capital-gains tax rate to 28.8% from 23.8%. L

A tax hike (even just these murmurings) might very well out a dampener on the rise.

ADDED, Washington Post have more and it be more accessible (ie not gated, WaPo often is but it seems to be ungated for now), link here
  • want corporate tax rate raised to 26.5% only for firms with >$5 m income
  • for firms with income under $400K they want to lower the rate from 21% to 18%
  • those b/w $400K-$5M would see rate flat at 21% as currently
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