Democratic Sen. Elizabeth Warren said the current corporate tax rate in the U.S. is not too high enough, an indication that the Massachusetts lawmaker could block the proposed tax cuts being pushed by the Trump administration, the Gateway Pundit reports.
President Donald Trump recently released its tax blueprint, which includes a huge cut in the corporate tax rate to 15 percent from 35 percent.
The current 35 percent rate is the highest among members of the Organization for Economic Cooperation and Development (OECD).
But Warren insists that corporations are paying less taxes than they used to.
“A generation ago, corporations paid 30 percent of what it costs to run the federal government. Today, corporations pay less than 10 percent, ” Warren said during an interview with Yahoo Finance.
“Somebody’s going to have to pay the bills to keep the government running,” she continued.
Meanwhile, Republicans are saying that the U.S. needs to keep up with the rest of the world in tax policy to remain competitive.