Kerry to Offer Cut in Corporate Taxes

[ringmastery]

http://www.washingtonpost.com/wp-dyn/articles/A25175-2004Mar25.html

John F. Kerry today will propose cutting the corporate tax rate as part of an economic plan designed to create 10 million jobs by 2009 and discourage companies from sheltering taxable income overseas, his economic advisers said yesterday.

In essence, Kerry will offer a trade: He would cut taxes on U.S. corporations in exchange for forfeiting current tax benefits for moving money and jobs overseas.

Kerry, fresh from a week-long vacation, is planning to use his first domestic policy address of the general election campaign to call for this carrot-and-stick approach to prod U.S. companies to do more business and create more jobs at home. The speech is billed as the first of three presenting the candidate's detailed balanced budget plan, which will include several new tax cuts.

In doing so, Kerry is seeking to position himself as a moderate, pro-business Democrat similar to Bill Clinton and beat back charges that he is a tax-and-spend liberal.