Fate of 21% Corporate Tax Rate Hinges on 2025 Party in Power (1)

The GOP’s 2017 tax law delivered a long-sought goal of Corporate America and many lawmakers—permanently slashing the corporate tax rate from 35% to 21% to make it more competitive with global peers.

But with much of the law’s provisions expiring at the end of 2025, Republicans may have to swallow raising the rate back up during 2025 negotiations, tax lobbyists and former Republican tax staffers say. That’s in part because Congress may need to pay for at least part of the cost of keeping a large swath of the individual rate cuts.

“There are only a handful of big levers ...