The United States of America places some of the highest corporate income taxes in the entire world ranging up to 35%. Despite the potential loss in tax revenue that is seen as the main motivator in denying lowered corporate tax, the current tax rates have actually encouraged domestic companies to legally move their business licensing and headquarters overseas to much lower tax countries.
This has removed any potential room for job growth and economic stimulation with corporate profits remaining in offshore accounts.refusing to bring their income back home to facilitate further research and development, innovation, job growth, and manufacturing.
This petition is meant to represent a permanent lowering of corporate income tax rates and not a "one time" tax waver.