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The Trump administration and GOP congressional leaders recently proposed the “Unified Tax Reform Framework,” their plan for the most sweeping overhaul of the federal tax code in more than three decades. The proposal calls for reducing the corporate tax rate to 20 percent from 35 percent, a shift that’s intended to make American companies more competitive with their counterparts around the world. It should be noted that under a lowered corporate rate, the value of LIHTC is reduced.
