the staff of the Ridgewood blog
Washington DC, according to the Tax Foundation if the Biden tax plan is fully implemented, increasing the corporate income tax would undermine the progress policymakers made four years ago. An increase in the federal corporate tax rate to 28 percent would raise the U.S. federal-state combined tax rate to 32.34 percent, giving the U.S. the highest combined corporate income tax rate in the OECD, ahead of France at 32.02 percent and the U.S. rank on the Tax Foundation’s International Tax Competitiveness Index would fall from 21st in 2020 to 30th, with the corporate rank falling from 19th to 33rd overall.
Continue reading Biden Tax Plan Will Destroy US Competitiveness
