President Barack Obama will propose an overhaul of the U.S. corporate tax system in February, his economic advisers said.
The proposal will be released at about the same time as the administration's fiscal 2013 budget plan, which is scheduled to be sent to Congress on Feb. 13. The administration isn't releasing details of the comprehensive proposal, such as whether it will include a target for the top corporate tax rate.
"The president is looking to push forward a discussion on a broader corporate tax reform," Jason Furman, the deputy director of the National Economic Council, told reporters on a conference call yesterday. "We're going to have more discussion of that broader framework around the time of the budget."
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