WASHINGTON (Sputnik) – US Treasury Secretary Steven Mnuchin confirmed on Wednesday that the administration of President Donald Trump intends to cut corporate tax rate from 35 to 15 percent.
"This is going to be the biggest tax cut and the largest tax reform in the history of our country," Mnuchin said in an interview with the Hill.
At present, the top US corporate tax rate of 35 percent is one of the world’s highest, and the Republicans have been arguing that it is providing an incentive for Americans to abandon the United States and move operations abroad.
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