U.S. lawmakers unveil business tax reform plan

Newswire

By Donna Smith WASHINGTON, July 25 (Reuters) - Hoping to avert a looming European Union trade war, Congress' top tax writer unveiled on Friday legislation that repeals U.S. export tax subsidies but provides new tax breaks for small manufacturers and U.S. multinational companies, U.S. House of Representatives Ways and Means Committee Chairman Bill Thomas said his bill is better than rival legislation that would reduce tax rates for domestic manufacturers because it would help both ...

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