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February 22, 2012

Obama to Propose Cutting Corporate Tax Rate to 28 Percent 
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President Obama is preparing to unveil a proposal to overhaul the
nation's corporate tax code. Obama will propose lowering corporate taxes
to 28 percent, down from 35 percent. But the White House says the plan
will offset the loss in revenue by eliminating a number of reductions
and loopholes worth tens of billions of dollars each year. The plan also
calls for a new minimum tax on profits earned abroad.



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