Congressional Republicans have already called the proposed budget a political non-starter
President Obama released his proposed federal budget, asking Congress to eliminate billions of dollars in tax breaks to the oil and gas industry in order to fund a $4 trillion budget for fiscal year 2016. The budget comes as part of a broader push to overhaul U.S. business taxes, which includes lowering the corporate tax rate to 28% from 35% today, while hitting untaxed foreign earnings that U.S. companies have accumulated overseas with a one-time, 14% ta...


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