The Co-Chairmen’s Report on Deficit Reduction on Corporate Taxes

By November 10, 2010General, Taxation

The co-chairmen of the Presidential deficit reduction panel, The National Commission on Fiscal Responsibility and Reform, have released their draft recommendations to the full panel. The full document released today by Erskine Bowles and former Sen. Alan Simpson is available here for download.

We’ll leave it for our policy mavens to read, analyze and comment in the days ahead, and for now just highlight this section of the tax discussion:

From Co-Chairs' draft report, National Commission on Fiscal Responsibility and Reform

The Tax Foundation this summer summarized a new Eurostat report on corporate tax rates in the European Union, comparing 2000 to 2010 rates. The paper, “New EU Report Shows U.S. Corporate Tax Rate Out of Step With Global Trends,” concluded: “The top statutory corporate tax rate among the EU27 fell 8.7 percentage points, from 31.9 percent to 23.2 percent. Among the 16 largest EU nations, the average rate is 25.7 percent.”

Leave a Reply