Obama to float corporate tax overhaul Wednesday

[Eugene]

Source: Reuters

Obama to float corporate tax overhaul Wednesday

By Jeff Mason and Kim Dixon

WASHINGTON | Tue Feb 21, 2012 7:21pm EST

(Reuters) - The Treasury Department on Wednesday will roll out a corporate tax reform plan from President Barack Obama, administration officials said on Tuesday, with expectations low for any major tax code overhaul in an election year.

The Obama plan will follow such principles as "fairness" that the president laid out in his State of the Union address to Congress last month, the officials said.

A cut in the corporate tax rate, which presently tops out at 35 percent, may be included, as well as a proposal for a minimum tax on overseas profits, analysts said.

Most analysts doubt that the convoluted tax system could be revamped by a deeply divided Congress in an election year.

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Read more: http://www.reuters.com/article/2012/02/22/us-usa-tax-corporate-idUSTRE81K25N20120222

[ellisonz]

1. Nice idea.

Probably won't ever happen.