What consequences will the presidential election have on corporate taxes?

THE result of THE 2024 presidential election will trigger A "colossal several billion dollars struggle on Taxes," said Semafor. Big parts of Donald Trump's 2017 tax cut law will expire In 2025, giving anyone won THE election — both THE White Home And Congress — "THE opportunity has rewrite a lot of THE IRS coded." Asset doesn't officially released A tax plan, However he recently said A gathering of CEO that he plans new cuts has business Taxes, while President Joe Biden has Free proposals "aimed has breeding taxes on multinational companies And THE the richest Americans."

It is not clear that Asset has THE rest of THE GOP on advice has slash taxes For big business. “Anti-corporate feeling East running high among more and more populist spirit Republicans", said Policy. A influential Republican, representative Chip Roy (Texas), has even propose breeding THE business tax rate Since 21% has 25%. "There is A bubbling concern that We should not be TO DO THE bid of business America," Roy said. Business lobbyists are Already rushing In THE fight, with A executive saying that companies I should not bear THE the weight of tax increase "because those companies are THE those that are create jobs."

"THE time East NOW has sidewalk THE corrosive concentrations of extreme wealth And business power," from Oxfam Irit Tamir said has Fortune. While THE official business tax rate East has 21%, THE "effective" tax rate — What companies In fact pay After deductions — can be a lot lower: THE pharmaceutical industry, For example, pay A effective tax rate of 11.6%. "This East far lower that What THE average American pay." Any of them new tax structure that preserves weak rates For companies And THE rich East "A that will further inequality In This country."

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