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TCJA changed how corporations are taxed on foreign operations and lowered the corporate rate substantially.
But she doesn't make any change in the corporate rate.
BARTIROMO: So you want the corporate rate at 35percentt?
In addition to the corporate rate of 4.8 percent, other taxes bring the effective Illinois corporate rate to 7.3 percent, Mr. Higgenbottom said.
While lowering the corporate rate remains good public policy, the optics have changed.
For these businesses, a corporate rate cut diminishes their competitive advantage.
The current corporate rate of 35 percent is higher than that in many other developed countries.
(The United States corporate rate for bringing overseas cash home is 35 percent).
The new Illinois corporate rate of 7 percent compares with Wisconsin's 7.9 percent.
Even Mr Obama agrees that the corporate rate should be lowered.
MR. BAUCUS: There's much more agreement on lowering the corporate rate.
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