Need to Know
May 13, 2015 7:18 AM
Gov. Chris Christie Pushes for Reagan-Era Tax Rates
Posted by Staff
The Wall Street Journal:

New Jersey Gov. Chris Christie called Tuesday for rolling back personal income-tax rates to 1986 levels, the latest in a series of proposals by announced and likely Republican presidential candidates who are positioning a tax overhaul as the defining economic issue of the 2016 primary season.

Mr. Christie proposed reducing the current multirate structure for individuals to just three with a top rate of 28%, compared with the current 39.6%, a change reminiscent of the Reagan-era tax law of 1986.

He also recommended lowering the U.S. corporate rate—now 35%, among the world’s highest—to 25%. Separately, he said he would encourage corporations to bring back overseas profits by seeking a one-time rate on them of 8.75%. Facebook iconFacebook Fark iconFark Furl iconFurl
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