Sen. Kyrsten Sinema opposes new Democrat corporate tax rate

Ariz. (KYMA, KECY) - Senate Democrats are proposing a new corporate minimum tax rate to fund President Biden's spending bill.

This plan is different than a straight increase in the corporate tax rate, which Arizona Democrat Kyrsten Sinema was opposed to.

Sinema has signaled an openness to a proposal like this one.

The proposed 15% minimum tax would apply to companies that report more than one billion dollars in profits.

The plan would affect roughly 200 businesses.

And would include some preservations for business credits, as well as some flexibilities for companies to carry forward losses and utilize other tax credits.