trump 12:6

President Trump called for cutting the corporate income tax below the current 21% rate at a Business Roundtable event Thursday, according to multiple news reports.

Grover Norquist, President of Americans for Tax Reform, issued the following statement applauding President Trump’s call to further lower the corporate rate:

“Trump knows workers, retirees, and households pay the corporate tax. By reducing the tax rate, he reduces the tax burden on the middle class and creates jobs and growth.”

CNBC reported that Trump told CEOs in the room that if he is returned to the White House he will cut taxes, including bringing the corporate rate down further beyond the current 21% rate.

Jason Miller, a Trump Campaign Spokesman, told the Hill that Trump announced his intention to make all of the Trump tax cuts permanent and bring the corporate tax rate down below 21%.

Cutting the corporate rate further would build upon the success of the 2017 Trump tax cuts by increasing wages for workers, creating jobs and growing the economy.

A 2023 Tax Foundation study found that cutting the corporate rate down to 15% “would increase after-tax incomes across all income levels,” and “increase long-run GDP by 0.5 percent, raise wages by 0.4 percent, and create about 91,000 full-time equivalent jobs.”

Americans for Tax Reform recently detailed how workers, retirees and households pay the corporate tax.

Trump’s call to cut taxes on American businesses stands in stark contrast to President Biden’s tax agenda, with Biden calling for the full expiration of the Trump tax cuts and his plan to raise the current 21% corporate income tax rate to 28%, higher than communist China’s 25%.

Americans for Tax Reform applauds Trump’s call to cut the corporate income tax rate.