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Democratic National Platform Advances President’s Corporate Tax Reform Proposals

Permanent R&D tax credit, reduced corporate tax rates and a minimum tax on foreign earnings are included in the Democratic platform adopted last week at the party’s convention in Charlotte, N.C.

The official Democratic party platform unveiled Sept. 3 incorporates several of the president’s previously outlined corporate tax reform principles, including making the R&D tax credit permanent, reducing corporate tax rates and changing some policies that encourage firms to set up facilities overseas.

The device industry, among others, has pushed for the Research and Experimentation Tax Credit to be made a permanent part of the tax code, rather than a provision that Congress...

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