Tax Increase for Corporations Looks More Likely as Election Nears
WASHINGTON—On paper, the 21% U.S. corporate tax rate was a permanent cornerstone of the 2017 tax law, a boon to business without the expiration date attached to other provisions. In reality, that low rate is only as solid as Republicans’ ability to wield power in Washington.
That Republican bulwark could vanish next month, taking the corporate rate cut with it and upending the planning companies had done around the 21% rate. Democrats, with a chance to control the House, Senate and White House for the first time in a decade,...
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