Florida Latin Connection

POLITICO’s Ben White reports:

The Obama administration Wednesday will unveil a framework for reforming the corporate tax code that would lower the top rate from 35 percent to 28 percent but generate more total revenue by eliminating “dozens of tax loopholes and subsidies” and creating a minimum rate on foreign earnings.

Treasury Secretary Timothy Geithner will formally unveil the tax reform blueprint at 11:30 a.m.

The proposal, not likely to become law during an election year in which Congress is not expected to pass any significant legislation, nonetheless, will provide a campaigntalking point for President Barack Obama.

President Obama has positioned himself as a tax-cutter going into an election year — fresh off the successful full-year extension of the payroll tax cut. (Politico/Tau)

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