Passthrough entity and so the president and the argument is that the americans gave the benefits. Well, if we didnt get any of the benefits, i think that we should be confident about that. And its important to know that this is not the first time had this discussion in front of us and it was defeated 33 to 65 and we have many of our democratic colleagues join with all the republicans to reject a statutory ban on exports. And this amendment that is pending, a they will see the same thing. And i say that because it continues to be unnecessary and i believe that it takes a pause in the wrong direction. And the department of energy has looked critically at this issue at the Keystone Xl Oil being exported. Whether or not that makes sense. So they have sent it pretty physically that without a surplus of heavy oil in the gulf coast area, there would be no economic incentive to ship canadian oil to asia where it is coming out of. The department of energys conclusion was pretty it was a pretty
Investment were incentivized to pay the lower tax rate, sell the investment and reinvest in a maturing developing investment rather than that hold on because they didnt want to pay a confiscatory tax. There is not one of us in this room that doesnt make decisions every single day on our personal financing where we dont consider in some part, in whole or in part the tax consequence of it. That is why you have a tax code. But we ought to look at fair and equitable Corporate Tax relief. We ought to do it for s corps and c corps. C corps tax rate are 35 . S corps are corporations where they file as partners and frosts flow through on what is known as a k1 statement and flows through as ordinary income. Today the ordinary income tax rate for people making more than 450,000 can go up to 39 . It is higher than the 35 c corps have. If we lower the c corporate from 35, there will be a big disparity. The s corps is 72 of the jobs created in america. So we ought to take the whole enchiladas, refo
Mutai appointed new Tea Board CEO standardmedia.co.ke - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from standardmedia.co.ke Daily Mail and Mail on Sunday newspapers.