CRS Report for Congress Prepared for Members and Committees of Congress The Corporate Income Tax System: Overview and Options for Reform

"Many economists and policymakers believe that the U.S. corporate tax system is in need of

reform. There is, however, disagreement over why the corporate tax system needs to be reformed,

and what specific policy measures should be included in a reform. To assist policymakers in

designing and evaluating corporate tax proposals, this report (1) briefly reviews the current U.S.

corporate tax system; (2) discusses economic factors that may be considered in the corporate tax

reform debate; and (3) presents corporate tax reform policy options, including a brief discussion

of current corporate tax reform proposals.."Corporate income tax