It is widely recognized that U.S. statutory corporate tax rates are high by international standards. According to the OECD, the top U.S. corporate tax rate (federal and average state rate combined) was 39.1 percent in 2009, second highest among the 30 OECD countries after Japan (39.5 percent), and more than 13 percentage points higher than the average for the other 29 OECD countries (25.9 percent). more»
While the United States is a relatively low-tax country by OECD standards, with taxes as a share of GDP ranked fourth lowest among the 30 OECD member countries in 2007, it currently has the second highest corporate tax rate and has historically relied on corporate taxes to fund a larger share of the cost of government than the average OECD country. more»
For years, some politicians have proposed to increase the tax burden on the profits earned by American companies outside the United States, and Congress is now considering legislation that would sharply limit the "deferral" rules that protect U.S. businesses from bearing much higher tax burdens on their earnings abroad than their foreign competitors. more»
Few domestic policy issues invoke greater passion or have greater import than the rising demand for energy and its impact on our economy and environment. From record prices at gasoline pumps to higher energy and consumer expenses to global climate change, Americans are increasingly aware of the enormous challenges posed by this troubling trend.
It's not just the family budget or business bottom lines that are at stake: The consequences of our energy policies could affect Americans' quality of life and the health of our planet for generations to come. more»