House Democrats plan 26.5 percent corporate rate as part of multitrillion tax hike

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House Democrats want to raise the corporate rate to 26.5 percent as part of nearly $3 trillion in tax increases to defray the cost of their next big spending package.

The Ways and Means Committee is also planning to call for a new 3 percent surtax on people making more than $5 million, sources familiar with Chair Richard Neal’s plan say, as well as increasing the top capital gains rate to 28.8 percent from 23.8 percent.

Neal also wants to raise taxes on multinational corporations’ overseas profits, tighten estate tax

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