Why does the GOP want to give corporate America a big tax cut?
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After months of big promise and bullet-pointed lists, the GOP is out with a tax bill today. It is a long way from final. Democrats, business groups and others are already pushing back hard against elements of the plan. Among the changes the GOP is touting loudest and seems most committed to is a plan to cut the corporate tax rate from 35 percent to 20 percent. But why is the party so focused on that part of the tax code? Just 9 percent of total federal revenue comes from corporate income taxes. And, according to a Pew survey, more voters favor raising than lowering corporate tax rates.
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