Top Pro & Con Arguments
Raising the corporate income tax rate would allow the federal government to pay for much-needed social and infrastructure programs.
Corporate taxes pay for public services and investments that help the companies suceed. By not paying their fair share of taxes, corporations transfer the tax burden to small companies and individuals.  
A lower federal corporate tax rate means less government tax revenue, thus reducing federal programs, investments, and job-creating opportunities. When the Tax Reform Act of 1986 reduced the top marginal rate from 46% to 34%, the federal deficit increased from $149.7 billion to $255 billion from 1987-1993. The Congressional Budget Office estimates that President Trump’s Tax Cuts and Jobs Act will increase the projected federal deficit from $16 trillion in 2018 to $29 trillion by 2028.  
Experts at the Center on Budget and Policy Priorities concluded of President Trump’s tax cuts (which includied a corporate tax rate cut): “All of that tax cutting also significantly reduced federal revenues. Federal revenues as a share of the economy (gross domestic product, or GDP) stood at 20 percent in 2000. In 2019, at a similar peak in the business cycle, federal revenues had fallen to just 16.3 percent of GDP — which is far too low to support the kinds of investments needed for a 21st century economy that broadens opportunity, supports workers and helps those out of work, and ensures health care for everyone.” Read More