Romney speaks about economic freedom
February 7th, 2007 by Brendan SteinhauserBloomberg has the article.
Romney’s tax policies are still a work in progress. Aides say he was prepared to call for a corporate rate reduction in his Detroit speech and changed his mind. Endorsing a cut in the corporate rate would be controversial: Many Republican activists are more interested in cutting marginal rates for individuals than giving corporations tax breaks.
“The individual rate is where the priority should be,” said Dick Armey, a former Republican representative from Texas and House majority leader, and currently chairman of FreedomWorks, a Washington advocacy group that favors lower taxes.
Backers of corporate tax relief say the high U.S. rate puts American exporters at a disadvantage. The U.S. rate is the second-highest among nations belonging to the Paris-based Organization for Economic Cooperation and Development.
Romney is studying another political hot potato as well: a cut in the top 35 percent tax rate for high-income taxpayers.
