The Days After...Economy / FinancePolitics

U.S. House Democrats Want a Roll-Back of Trump-Era Tax Cuts for Corporations and The Wealthy

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Leading Democrats in the U.S. House of Representatives on Monday proposed a substantial roll-back of President Trump’s tax cuts, including raising the top tax rate on corporations to 26.5% from the current 21%. If the proposed legislation passes Congress, corporate taxes would still be lower, but the top individual income tax rate would revert to its pre-2017 level Democrats on the powerful House Ways and Means Committee said they will debate legislation this week that would achieve the changes as part of their broader, $3.5 trillion domestic investment plan. In an attempt to finance the new spending, the Democratic-led committee…

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