May 15, 2020 / 3:04 PM / 13 days ago

White House's Kudlow floats cutting U.S. corporate tax rate in half

WASHINGTON, May 15 (Reuters) - White House Economic Adviser Larry Kudlow on Friday floated the idea of cutting the corporate tax rate in half for U.S. companies who bring their operations back from other countries.

“Why not provide a 50% discount for the corporate tax rate if you’re moving from outside the U.S. to the U.S.?” Kudlow told reporters at the White House, emphasizing that this was a thought, not a policy.

“So, the rate is 21%. Why not try for a couple of years or longer, a 10.5% rate - which would make us extremely competitive and hospitable to new investments here?” (Reporting by Lisa Lambert, Editing by Franklin Paul)

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