U.S. Senator Bernie Sanders (I-VT) has announced the introduction of the Corporate Tax Dodging Prevention Act. According to a summary, the bill would reform the tax code by:
- Repealing the Trump corporate tax rate and restoring the top corporate tax rate to 35%;
- Ending the rule allowing American corporations to pay a lower or zero percent tax rate on offshore earnings compared to domestic income;
- Eliminating the Interest-Free Deferral of Repatriation Tax Payments;
- Closing loopholes allowin…