One of the reasons the US tax code is so complex is that Congress is always eager to take up a new tax bill. Many corporations and individuals have a point of view and will take the opportunity to seek changes that favor their interests. That results in much interest in Congress and its members and feeds their campaign contributions funds nicely.But the issue is always the same. If you make a major tax cut for corporations, how do you make up the reduction in tax revenue? Who pays instead? Or do you simply continue borrowing more money (or print more dollars to pay the bills).This always means a big fight in Congress. Obviously some powerful forces are trying to make corporate tax reform a major issue that should be addressed by Congress. But mostly, they want lower taxes for corporations. Ie, more loopholes.Closing existing loopholes to pay for the change is often cited. But will those changes actually happen, or will they get trimmed as the tax cut bill goes through all the hands who must handle it?
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