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Rate expectations: Kudlow suggests US cuts corporate tax to tempt firms home

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Comments: White House adviser Larry Kudlow talks to reporters yesterday

Comments: White House adviser Larry Kudlow talks to reporters yesterday

REUTERS

Comments: White House adviser Larry Kudlow talks to reporters yesterday

White House economic adviser Larry Kudlow has floated the idea of halving the corporate tax rate for US companies who bring their operations back from other countries.

"Why not provide a 50pc discount for the corporate tax rate if you're moving from outside the US to the US?" Mr Kudlow told reporters at the White House, emphasizing that this was a thought, not a policy.

With the coronavirus pandemic sapping retail sales, the labour market and industrial production, President Trump's administration is eager to find ways to shore up the US economy.