Gary Cohn: ‘Tax Reform Is Long Overdue’

‘For the last 25 years, other countries have been aggressively cutting their tax rates and moving to a territorial system in order to attract busines’

EXCERPT:

COHN: "And then on the business side, when President Reagan left office in 1988, the corporate tax rate was 34 percent and it has not changed much since. For the last 25 years, other countries have been aggressively cutting their tax rates and moving to a territorial system in order to attract business. The U.S. has done none of that. In 2017, we are still stuck with a 1988 corporate tax. That is why we are now one of the least competitive countries in the developed world when it comes to corporate tax. So tax reform is long overdue. We are going to cut taxes for businesses to make them competitive, and we’re going to tuck taxes for the American people, especially low and middle income families.”

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