President Donald Trump reiterated his call to cut the corporate income tax rate to 15 percent today during a policy speech at the Economic Club of New York. Trump’s proposed 15% corporate rate is a pro-growth tax cut that will increase workers’ wages, reduce costs for households and boost American manufacturing.
“Kamala is also vowing to raise the corporate tax rate from 21 to 28 percent, We’re bringing it down to 15 percent,” Trump announced.
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 Kamala Harris’s tax agenda, with Harris vowing to repeal the Trump tax cuts “on day one” and her plan to raise the current 21% corporate income tax rate to 28%, higher than communist China’s 25%.
Americans for Tax Reform applauds President Trump’s call to cut the corporate income tax rate to 15 percent.