President Obama Hands Off His Corporate Tax Framework As A “Lower Priority”

President Obama Hands Off His Corporate Tax Framework As A “Lower Priority”

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“Proposals Will Largely Amount To Political Messaging”

After More Than Two Years Of Rhetoric, President Obama Hands Off His Corporate Tax Framework As A ‘Lower Priority

 

“While Obama has been promoting various aspects of his economic agenda in personal appearances and speeches, the decision to leave the corporate tax plan to the Treasury Department to unveil signaled its lower priority.” (“AP Source: Obama Seeks 28 Percent Corp. Tax Rate,” AP, 2/22/12)

 

·         “…Mr. Geithner… is unlikely to see the project through since he plans to leave office after this year.” (“Obama Offers To Cut Corporate Tax Rate To 28%,” The New York Times, 2/22/12)

 

“Obama, however, is not scheduled to discuss his tax framework on Wednesday.” (“White House To Pitch Business Tax ‘Framework’ To Compete With Romney’s Reform Announcement,” The Daily Caller, 2/22/12)

 

“For now, [analysts] said, tax proposals will largely amount to political messaging.” (“Obama To Propose Corporate Tax Rate Of 28 Percent,” Reuters, 2/22/12)

 

More Than Two Years Of Empty Rhetoric

 

SEPTEMBER 2010

 

PRESIDENT OBAMA: “The — and what I’ve said is, if you can lower corporate tax rates by eliminating loopholes, so that it’s tax neutral, I’m happy to work with you.” (President Obama, CNBC Town Hall, 9/20/10)

 

PRESIDENT OBAMA: “I would like to see a lower corporate tax rate. But the way to do that is to eliminate all the loopholes, because right now on paper we’ve got a high corporate tax rate.” (President Obama, Remarks, Des Moines, IA, 9/29/10)

 

JANUARY 2011

 

PRESIDENT OBAMA: “So tonight, I’m asking Democrats and Republicans to simplify the system. Get rid of the loopholes. Level the playing field.  And use the savings to lower the corporate tax rate for the first time in 25 years –- without adding to our deficit.  It can be done.” (President Obama, State Of The Union, 1/25/11)

 

FEBRUARY 2011

 

PRESIDENT OBAMA: “Now, another barrier government can remove — and I hear a lot about this from many of you — is a burdensome corporate tax code… We need something smarter, something simpler, something fairer.” (President Obama, Remarks, U.S. Chamber Of Commerce, 2/7/11)

 

PRESIDENT OBAMA: “Now, with respect to corporate tax reform, the whole concept of corporate tax reform is to simplify, eliminate loopholes… let’s get rid of those as well.” (President Obama, Press Conference, 2/15/11)

 

APRIL 2011

 

PRESIDENT OBAMA: “And as I called for in the State of the Union, we should reform our corporate tax code…” (President Obama, Remarks On Fiscal Policy, George Washington University, Washington, D.C., 4/13/11)

 

SEPTEMBER 2011

 

PRESIDENT OBAMA: “Our tax code is more than 10,000 pages long… That has to change… we can lower the corporate rate if we get rid of all these special deals.” (President Obama, Remarks, The White House, 9/19/11)

 

PRESIDENT OBAMA: “By eliminating pages of loopholes and deductions, we can lower one of the highest corporate tax rates in the world.” (President Obama, Remarks To A Joint Session Of Congress, 9/8/11)

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