Raimondo On Proposed 28% Corporate Tax Rate: "There's Room For Compromise"

Commerce Secretary Gina Raimondo called for "compromise" when it comes to raising corporate taxes to a point not as high as they were before the Trump tax cuts in order to pay for an infrastructure bill, during a press briefing on Wednesday. QUESTION: If it is raised to 28 percent though that would put the U.S. at one of the highest in the world. Does it have to be 28 percent? Would you go lower? Could you accomplish the same thing if the tax rate weren't raised to 28 percent? RAIMONDO: So there is room for compromise. The--that is clear. The president has said a few things. We have to get this investment done. We--we--he's charged us to work across the aisle and in a bipartisan way. And to--and we need to pay for what we're doing. Like, our proposal is to invest in eight years and pay back over 15. Now we can have a discussion about that. Should we pay it back over 20 instead of 15? Is the rate not quite 28? Is it something, you know, lower? So we're--we wanna compromise. What we cannot do and what I am imploring the business community not to do is to say we don't like 28, we're walking away. We're not discussing. That's unacceptable. Come to the table and problem solve with us to come up with a reasonable, responsible plan.

Raimondo On Proposed 28% Corporate Tax Rate: "There's Room For Compromise"
Commerce Secretary Gina Raimondo called for "compromise" when it comes to raising corporate taxes to a point not as high as they were before the Trump tax cuts in order to pay for an infrastructure bill, during a press briefing on Wednesday.
QUESTION: If it is raised to 28 percent though that would put the U.S. at one of the highest in the world. Does it have to be 28 percent? Would you go lower? Could you accomplish the same thing if the tax rate weren't raised to 28 percent? RAIMONDO: So there is room for compromise. The--that is clear. The president has said a few things. We have to get this investment done. We--we--he's charged us to work across the aisle and in a bipartisan way. And to--and we need to pay for what we're doing. Like, our proposal is to invest in eight years and pay back over 15. Now we can have a discussion about that. Should we pay it back over 20 instead of 15? Is the rate not quite 28? Is it something, you know, lower? So we're--we wanna compromise. What we cannot do and what I am imploring the business community not to do is to say we don't like 28, we're walking away. We're not discussing. That's unacceptable. Come to the table and problem solve with us to come up with a reasonable, responsible plan.