U.S. House Democrats seek corporate tax increase to 26.5 percent

Leading Democrats in the U.S. House of Representatives said on Monday that they are seeking to raise the nation’s tax rate on corporations to 26.5 percent, up from the current 21 percent.

The House Ways and Means Committee said that it will debate legislation this week that would achieve the change as part of Democrats’ broader, $3.5 trillion domestic investment plan.

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