Ten Reasons to Reform the Tax Code: Reason #6
The U.S. corporate tax rate is the highest in the developed world.
Highest in the OECD. Among other developed economies in the Organization for Economic Cooperation and Development, the U.S. combined corporate tax rate is the highest at 39 percent, including the 35 percent federal rate and average state taxes. Among all countries, only the United Arab Emirates has a higher corporate rate.
Losing Ground by Standing Still. The Tax Reform Act of 1986 moved the U.S. corporate rate from one of the highest to among the lowest in the OECD. Since then, our competitors have aggressively lowered their rates to attract businesses and jobs while America has been left behind.
