The Obama administration is quietly gearing up for a high-profile launch in May or June on what may turn out to be the most heavily lobbied issue of the year: corporate tax reform.Very cool. Very awesome for K Street. I know when I cast my vote for a Democratic president, I was hoping that he would pursue policies that could be described as "a feast" for lobbyists.
"This will be a feast for K Street," said one top aide.
At a time when the two parties can find little common ground legislatively, strategists on both sides tell POLITICO they hope to advance their jobs agenda by finding a way to lower corporate tax rates.I love games! You know what my favorite game is? Pretending that trickle-down economics hasn't been comprehensively discredited for nearly forty years!
"This would send a reassuring signal to the economy, and is something both parties should support in theory," a senior administration official said, predicting "a numbers game" in which companies and industries ferociously litigate the fine points.
Treasury Secretary Timothy Geithner plans to ignite the debate by unveiling a white paper that advocates lowering the top corporate tax rate from the current 35 percent to less than 30 percent and as low as 26 percent, according to aides. The proposal is likely to fall between 26 percent and 28 percent.Oh, good. There's nothing I like to hear more than the Treasury Secretary feeling encouraged after meeting with conservative think tanks about how best to stimulate the economy.
...Geithner has already begun his campaign with a series of closed-door meetings with CEOs, academics, labor unions and liberal and conservative think tanks. Aides say he was encouraged by the response.
They always have such excellent ideas.
[H/T to Digby.]