Tax Policy

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Vox: Weighing the Pros and Cons of Corporate Tax Reform in the EU

Authors: Leon Bettendorf, Michael Devereux, Simon Loretz, and Albert van der Horst

The European Commission has launched proposals to radically reform corporate income tax in the EU with a system known as the Common Consolidated Corporate Tax base. This column in Vox suggests that this reform would have significant effects on individual member states, but only small effects at the aggregate level in terms of employment, GDP and efficiency.

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The Treasury Department released the President's Framework for Business Tax Reform on February 22, 2012. The press release states, "Treasury released the President's framework for reforming the U.S. business tax system, which would enhance American competitiveness by simplifying the tax code and eliminating dozens of tax loopholes and subsidies, incentivizing job creation and investment here at home and lowering the business rate while broadening the tax base."


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