U.S. Senator Elizabeth Warren (D-MA) speaks during a Senate Finance Committee hearing on the nomination of Chris Magnus to be the next U.S. Customs and Border Protection commissioner, in the Dirksen Senate Office Building on Capitol Hill in Washington, DC, October 19, 2021. WASHINGTON — New details of a Democratic plan to enact a 15% minimum corporate tax on declared income of large corporations were released Tuesday by three senators, Elizabeth Warren, D-Mass., Angus King, I-Maine, and Senate Finance Committee Chair Ron Wyden, D-Ore. The senators will propose the tax be included as a source of revenue to help fund the massive "Build Back Better" bill that Democrats are currently negotiating. Shortly after the plan was released a key senator in those negotiations, Arizona Democrat Kyrsten Sinema, announced that she would support the corporate minimum tax, giving the proposal a major boost. According to a release from the senators, the corporate minimum tax would: Apply only to companies that publicly report more than $1 billion in prof . . . read the full article here.
Keywords: senate, unveiled, credits, corporate, minimum, corporations, key, released, social, comes, tax, plan, proposal, democrats, senators
DATE: Tuesday, annually, this week, future years, October 19, 2021, a three year time
NORP: American, Democrat, Democrats, Democratic
MONEY: more than $1 billion
CARDINAL: three, about 200
WORK_OF_ART: Build Back Better