BREAKING NEWS

Geithner: Obama corporate tax plan before year-end

By REUTERS

SEPTEMBER 19, 2011 19:44

WASHINGTON - US Treasury Secretary Timothy Geithner on Monday said the Obama administration's plan to revamp the corporate tax code would be unveiled by the end of the year.

Geithner took questions about President Barack Obama's proposal to overhaul the tax code by cutting corporate tax breaks, as part of an effort to pare the deficit by $3 trillion over a decade.

Geithner also said the proposal would restore fiscal soundness to the United States, responding to a question about the decision by Standard & Poor's to lower the top-notch AAA credit rating of the country.

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