SAN FRANCISCO—The Semiconductor Industry trade group Tuesday (March 14) endorsed a proposal by Congressional Republicans to reform corporate tax rates as “an appropriate starting point.”
The “Better Way” corporate tax reform blueprint would reduce the federal corporate tax rate to 20 percent from 35 percent and also repeal the alternative minimum tax for corporations.
The blueprint, first unveiled last summer, was written by U.S. Speaker of the House Paul Ryan and Kevin Brady, chairman of the powerful House Ways and Means committee. The proposal, expected to be considered in Congress this year, has previously been criticized by democrats and by President Donald Trump prior to his taking office in January.
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