December 19, 2007

The endless creativity of the BuZhistas

Study to offer ways to cut corporate taxes

Treasury Secretary Henry M. Paulson Jr. said his department would soon issue a report with suggestions on how to lower U.S. corporate taxes, which he called "relatively high." The tax study, five months in the making, won't recommend specific legislation, Paulson said yesterday. Any substantive change would have to be approved by the Democratic-controlled Congress, which is battling with the Bush administration over whether to raise taxes on hedge funds to alleviate the burden of the alternative minimum tax. The report is part of the Treasury chief's push to reduce regulations to help U.S. companies remain competitive.

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