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Thursday, August 1, 2013

Obama rehashes corporate tax proposals.

President Barack Obama yesterday revived a plan to cut corporate taxes to 28% from 35%. Obama also wants to overhaul the tax code, which would generate one-time funds that would be used to finance infrastructure, education and promoting manufacturing. To limit tax evasion and the use of havens, Obama proposed a minimum tax on foreign earnings. With Republican unimpressed, Obama's plans are unlikely to make too much headway in the House.

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