Bernie Sanders would raise taxes on corporations by almost $4trillion; his plan would generate more revenue than any otherDemocratic presidential candidate's proposal, according to newestimates from the Tax Foundation.

The major Democratic presidential candidates all agree that the2017 Republican-backed tax overhaul, which lowered the corporaterate to 21 percent, from 35 percent, went too far. They differ,however, on how much to raise the rate. Proposals range from 25percent to 35 percent, plus additional surtaxes and reducedcorporate tax breaks that add to the total levies companies wouldface.

Sanders is proposing a 35 percent corporate rate and economicdepreciation for investments that would raise taxes on corporationsby $3.87 trillion over a decade, according to the figures releasedWednesday. At the bottom end of the spectrum, Amy Klobuchar'sproposal would impose a 25 percent rate that would raise $716billion over 10 years.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.