The ITPF News Blog is managed by the students at the University of Florida Levin College of Law International Tax LLM Program.
By Michael Rapoport
Tax executives from multinational companies are bracing for a potential increase in the corporate tax rate, though they’re optimistic it won’t be raised all the way to 28% as President Joe Biden has proposed. Biden’s planned increase to 28%, from the current 21% rate, has faced resistance from corporate America and Republicans. And not all Democrats are on board with it.
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