We currently have 1 false assertion made by John Shimkus in our database.
- Member of the U.S. House of Representatives from Illinois's 15th district (2013-)
- Member of the U.S. House of Representatives from Illinois's 19th district (2003-2013)
- Member of the U.S. House of Representatives from Illinois's 20th district (1997-2003)
WHAT’S OUT? Special-interest loopholes, incentives to ship jobs overseas, and the highest corporate tax rate in the industrialized world.Twitter on
- The US Has the Highest Corporate Tax Rate in the Developed World
The US does have a high statutory rate (up to 35%), but significant deductions and exemptions mean companies actually end up paying a much lower rate; the effective tax rate is about average. Furthermore, while the statutory rate is relatively high, it is not the highest in the developed world; that distinction goes to the United Arab Emirates with rates up to 55%.