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GOP Corporate Tax Overhaul Would Place 25 Percent Levy on Companies' Cash Flow

from Roll Call

Senior House tax-writer Devin Nunes is making an opening bid in the GOP's hunt for a viable tax overhaul with a proposal to replace the 35 percent corporate rate with a 25 percent levy on cash flow, a measure of funds typically available after expenses, financing and investment. The California Republican said in an interview that his American Business Competitiveness plan could move on a separate track from an envisioned international tax overhaul that is a top priority of Ways and Means Chairman Kevin Brady, R-Texas. Nunes' proposal, introduced earlier this month, will be one of the items weighed as Speaker Paul D. Ryan of Wisconsin and his leadership team try to frame tax priorities for a campaign agenda they plan to unveil by spring. more

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