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401(k) savers may have to fund cut in corporate tax rate

by Nick Thornton | Mar 20, 2017   ()

The Trump administration’s pledge to slash the corporate tax rate faces an immovable obstacle: how to pay for the lost revenue that would come from the cuts.

On the campaign trail, President Trump vowed to gut the corporate rate from 35 percent to 15 percent, a plan central to the administration’s larger pro-growth economic agenda.

Details of a road map for tax reform have to yet to emerge from the White House. But Gary Cohn, Trump’s director of the National Economic Council, recently told CNBC that the administration is committed to advancing tax reform under the budget reconciliation process, which will require any changes to the tax code to be deficit-neutral over the next 10 years.

 

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Source: Benefits Pro
Source: Benefits Pro

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