GOP nominee Trump to propose a 15% tax rate for companies that manufacture goods in the US

The Wall Street Journal is reporting that GOP nominee and former president Trump is to propose a 15% corporate tax rate for companies that make products in the US. The current low tax rate is 21%. Trump will be speaking in front of the New York economic club later today.

The proposal according to Goldman Sachs would boost the S&P earnings by about 4%. All things being equal that would increase the amount of taxes paid on those earnings, but at a lower rate. What would be the net effect to the U.S. Treasury. My guess is no one knows.

This article was written by Greg Michalowski at www.forexlive.com.