McCain Plan Gives Top 200 Corporations $45 Billion In Tax Breaks

McCain Plan Gives Top 200 Corporations $45 Billion In Tax Breaks

If you're a CEO of one of America's largest corporations and have enjoyed the Presidency of George W. Bush, a contribution to the McCain campaign is looking like a pretty good investment.

A new report from the Center For American Progress Action Fund finds that a key piece of John McCain's tax plan -- cutting the corporate tax rate from 35% to 25% -- would cut taxes by almost $45 billion every year for America's 200 largest corporations as identified by Fortune Magazine.

Eight companies -- Wal-Mart Stores Inc., Exxon Mobil Corp., ConocoPhillips Co., Bank of America Corp., AT&T, Berkshire Hathaway Inc., JPMorgan Chase & Co., and Microsoft Corp. -- would each receive over $1 billion a year.

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