Tax Reform Proposal Would Slash Advertising Deductions
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Camp also proposed to gradually reduce the corporate tax rate, which currently is 35 percent. The bill aims to reduce it by 2 percent each year until it reaches 25 percent in 2018. That cutback is believed to add 581,000 jobs annually and increase GDP growth by up to 2 percent, according to the act’s executive summary, which also cited the Joint Committee on Taxation’s estimation that this, however, would lower government revenues by $680.3 billion from 2014-2023.
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Amanda L. Cole
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Amanda L. Cole is the editor-in-chief of NonProfit PRO. She was formerly editor-in-chief of special projects for NonProfit PRO's sister publication, Promo Marketing. Contact her at acole@napco.com.
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