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Details emerge on corporate minimum tax plan from U.S. Senate Democrats -CNBC -Breaking

by Mike Robinson

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© Reuters. U.S. U.S. REUTERS/Elizabeth Frantz

(Reuters) – Democratic U.S. Senators revealed details Tuesday of a plan for a minimum 15% corporate tax to be applied to approximately 200 companies, CNBC reported.

According to the report, Senator Elizabeth Warren and the Chairman of Senate Finance Committee Ron Wyden (both Democrats) presented the plan along with Senator Angus King who is an independent member of the Democratic caucus.

CNBC reported that this proposal targeted businesses making more than $1 billion annually in profit over a period of three years. CNBC cited Warren’s legislation as a source.

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