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.)
Team Jeb Hits Back at Trump for Being 'Soft on Crime,' Cites Past Support for Legalizing Drugs | Cortney O'Brien
Sen. Chris Murphy Admits That Gun Control Legislation From Washington Probably Won’t Stop Shootings | Matt Vespa
Doctors Will Be the Scapegoats in the Coming Obamacare Disaster | Human Events
Scarborough: Cable news has put lives at risk, including MSNBC, for “a few ratings points” - Hot Air
Political Calculations - What Is Your U.S. Income Percentile Ranking?
Thomas Sowell - A Revealing Clue
To Hell With You People | RedState
Vox "Smart Take" Pushes Gun Confiscation. Here's What Would Happen If They Tried. - Bearing Arms - 2nd Amendment, Gun Confiscation
Email shows Hillary 'One Device' Clinton happy to have her new, unapproved Apple 'hPad'