Doubts arise on whether corporate tax cut would boost growth
Friday, 15 September 2017 WASHINGTON (AP) — For President Donald Trump, what's good for General Motors is great for American workers. Same for Boeing. And AT&T. Not to mention small businesses. Trump insists that slashing the corporate tax rate from 35 percent to as low as 15 percent would free up valuable cash. Companies would use the money to boost investment, increase employees' pay, accelerate hiring and speed economic growth. What's more, corporations that now keep trillions overseas to avoid U.S. taxes would bring the money home. American companies could better compete with rivals based in countries with lower tax rates. "We're going to have magnificent growth," Trump declared aboard Air Force One on Thursday. "We're going to go like a rocket ship.
on Tuesday, U.S. Treasury Secretary Steven Mnuchin seemed doubtful about President Donald Trump’s aim of cutting the corporate tax rate to 15 percent. During a conference, Mnuchin stated, “I don’t know if we’ll be able to achieve that given the budget issues, but we’re going to get this...
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