What’s at stake for US businesses
Good morning and happy Halloween. I’m Emily Goldberg, the FT’s US newsletter editor. Steff will be back in the saddle on the big day next week. Today we’ll cover:
For the largest companies in the US, a quarter of a trillion dollars a year could be at stake — depending on who wins the presidential election [free to read].
Donald Trump has pledged to lower the corporate tax rate from 21 per cent to 15 per cent. That would further US businesses’ gains from the 2017 Tax Cuts and Jobs Act (TCJA), which lowered the rate from 35 per cent. Kamala Harris, meanwhile, plans to raise the corporate tax rate to 28 per cent.
What either candidate can accomplish, though, will depend on the political make-up of Congress.
“If Republicans sweep, you get one set of results,” said Rohit Kumar, who co-leads PwC’s national tax practice. “Democrats sweep, you get a different set of results. Divide the government and you get something somewhere in the middle. There’s no way to describe this other than that this is a significant fiscal event.” . . . Register for the FT to keep reading the newsletter for free .
Diploma in Banking Doing Financial, Managerial Accounting, Fundamentals of Business, Economics and Managements.
3 周The most crucial time in the history of the USA is the present election time. A lot is at stake for the businesses.
Fractional CFO Services | Automation & Robotics | E-Commerce Order Fulfillment | Contract Manufacturing
3 周Right-sizing government and re-visiting what it should be “managing” on behalf of it’s citizens (which is driving the need for taxes at all) is key. Investors are going to put their money where they see the highest returns (after tax). Look at the currency market which is driven by interest rate differentials for example. Governments have to learn how to compete globally. England is another prime example right now. It’s “game on” for World leaders to attract hard working people and their money. Lower government spending = lower taxes. That’s the “fix and/or cure”! Off now to ask ChatGPT what countries run a balanced or surplus budget and what the tax rate is in those countries (with a baseline quality of life)!
Wolf &Wolf
3 周If Kamala wins many important change will be do not believe she is moderate!!