Higher taxes are necessary to invest and compete globally: US Commerce Secretary

Corporate tax increases are necessary for the U.S. to better compete globally, U.S. Commerce Secretary Gina Raimondo told Yahoo Finance Live in an interview. House Democrats are out with a proposal to raise the tax rate on companies with income of at least $5 million to 26.5%

“If American business is going to compete, we need these investments,” Raimondo said. “And then the question is, how do you pay for them. I don’t know any business leader who thinks that it would be…

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