Aspects for GOP’s Tax Overhaul Plan Leak
Posted on Sep 25, 2017 in News
The Republican tax reform blueprint, due to be released this week, will propose a corporate tax rate of 20 percent, according to three insiders with knowledge of the plan, speaking on the condition of anonymity. In addition, the plan will call for full-expensing, allowing companies to immediately and fully deduct capital expenses. However, the full expensing benefit will be temporary, terminating after five years due to the cost. While the provision could result in an initial growth in business investment, its relatively short duration may hamper long-term planning.
GOP eyes corporate tax rate of 20 percent, retreating from Trump’s lofty goal