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Home Democrats anticipated to suggest hike to company tax fee, surtax on rich

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WASHINGTON (Reuters) – Home Democrats are anticipated to suggest elevating the U.S. company tax fee to 26.5% from 21%, the Wall Avenue Journal reported Sunday, citing a congressional aide.

Democrats are additionally anticipated to suggest a 3% surtax on particular person revenue above $5 million as a part of a wide-ranging finances invoice. They’re additionally contemplating elevating the minimal tax on U.S. corporations’ overseas revenue to 16.5% from 10.5% and the highest capital features tax fee to twenty-eight.8% from 23.8%, the Journal reported.

 

(Reporting by Pete Schroeder; enhancing by Diane Craft)