Obama Offers Low Taxes if GOP Supports Jobs

President Barack Obama offered Tuesday to lower the U.S. corporate tax rate  if Republicans accept making greater investments to create well-paying jobs.

“So I’m willing to simplify our tax code in a way that closes those  loopholes, ends incentives to ship jobs overseas, lowers the rate for businesses  that are creating jobs right here in America, provides tax incentives for  manufacturers that bring jobs home to the United States,” he said in a speech at  an Amazon distrubution center in Chattanooga, Tennessee.

Obama’s proposal is to lower the corporate tax rate from 35 percent to 28  percent, while firms in manufacturing would see their rate fall to 25  percent.

“Let’s simplify taxes for small business owners, give them incentives to  invest so they can spend less time filling out complicated forms, more time  expanding and hiring,” the president said.

“I’m willing to work with Republicans on reforming our corporate tax code, as  long as we use the money from transitioning to a simpler tax system for a  significant investment in creating middle-class jobs,” Obama said.

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