The U.S. Congressional Research Services (CRS) has published an updated report dated 11 June 2021 on Corporate Tax Reform: Issues for Congress. The report summary is as follows:
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Corporate Tax Reform: Issues for Congress
In 2017, the corporate tax rate was cut from 35% to 21%, major changes were made in the international tax system, and changes were made in other corporate provisions, including allowing expensing (an immediate deduction) for equipment investment. Recently, proposals h…