WASHINGTON (Reuters) - Treasury Secretary Tim Geithner on Tuesday said the Obama administration is close to presenting a set of principles to Congress to revamp the corporate tax code but that they will not be comprehensive and overhauling the tax code could take years.
"We're going to lay out a framework of elements we think should guide the discussion on corporate tax reform," Geithner told the Senate Finance Committee a day after President Barack Obama presented a $3.8 trillion 2013 budget plan.
The U.S. corporate tax rate at 35 percent is nearly the highest in the industrialized world, and the Obama administration later this month will propose later cutting the rate.
(Reporting By Kim Dixon.)
Surprise! Whole milk may be good for you after all
The Problem Isn't Guns Or White Men | Human Events
What? The White House just said something epically stupid ... and disturbing
Ted Cruz finds a question that the Sierra Club DARED not answer. | RedState
Father of Oregon Shooting Victim: We Will Not Be Attending Obama's Self Centered Gun Control Visit
Not Welcome in Umpqua: Armed Protest May Greet President's Attempt to Exploit Tragedy - Bearing Arms - Barack Obama, Mass Shooting, Oregon, Umpqua Community College
- Vladimir Putin’s Russia Adopts Concealed Carry