The Biden administration wants the largest U-S companies to pay more in taxes. Under the administration’s proposal, about 100 of the biggest corporations would be forced to pay at least 15 percent of their profits in taxes. The Treasury Department says the corporate alternative minimum tax would raise 250-billion over the next decade. Without it, […]
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Biden proposes larger tax on 100 biggest U.S. corporations
The Biden administration wants the largest U-S companies to pay more in taxes. Under the administration’s proposal, about 100 of the biggest corporations would be forced to pay at least 15 percent of their profits in taxes. The Treasury Department says the corporate alternative minimum tax would raise 250-billion over the next decade. Without it, officials estimate that those companies would pay just two-and-a-half percent of their profits in taxes. Republican presidential nominee Donald Trump opposes the corporate tax.