Sperling said just 6,000 companies, or less than 1 percent of the total, have foreign operations and would be affected by those changes. For the rest, Kerry is promising a reduction in the corporate tax rate from 35 to 33.25 percent, as well as a tax credit exempting them from payroll taxes on any new jobs created over two years.
"Some may be surprised to hear a Democrat calling for lower corporate tax rates," Kerry said at Wayne State before heading to this suburb for a rally with auto workers. "The fact is, I don't care about the old debates. I care about getting the job done and creating jobs here in the United States of America."
Scott McClellan, the White House press secretary, scoffed at the tax plan proposed by Kerry. "Reshuffling of the tax code, while increasing taxes on small businesses and entrepreneurs, does nothing to create an environment for sustained economic growth and job creation," McClellan told journalists traveling with the president.
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