The House GOP Budget Proposal on Tax Rates

By April 5, 2011Economy, General, Taxation

From the Chairman Paul Ryan (R-WI) of the House Budget Committee, the FY2012 Budget Proposal, “Path to Prosperity.”

Promoting Economic Growth and Job Creation
Individual Tax Reform: Simplifies the broken tax code, lowering rates and clearing out the burdensome tangle of loopholes that distort economic activity; brings the top rate from 35 to 25 percent to promote growth and job creation.
Corporate Tax Reform: Improves incentives for job creators to work, invest, and innovate in the United States by lowering the corporate tax rate from 35 percent, which is the highest in the industrialized world, to a more competitive 25 percent.

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