Obama Pushing For Corporate Tax Reform

 　　U.S. President Barack Obama aims to cut the country's corporate¹ tax rate from 35 to 28 percent, while eliminating dozens of tax-saving deductions² American companies now enjoy.

　　Treasury³ Secretary Timothy Geithner unveiled the tax overhaul⁴ Wednesday, two days before a tax proposal being offered by one-time venture capitalist Mitt⁵ Romney.  He is one of the leading Republican presidential contenders seeking his party's nomination⁶ to face Mr. Obama, a Democrat⁷, in next November's national election.

　　Government officials said the plan would cut the effective tax rate for manufacturing firms from the current 32 percent average to 25 percent.  But the proposal would raise taxes on oil and natural gas companies.  It also would require, for the first time, that U.S. companies operating overseas pay a minimum tax on their foreign earnings⁸.

　　The top U.S. corporate rate of 35 percent is among the highest in the world, putting American firms at an economic disadvantage.  But numerous U.S. corporations, after taking allowable deductions for business expenses, often pay at a substantially lower rate, and occasionally, nothing.

1 corporate   

adj.共同的，全体的；公司的，企业的

参考例句：

• This is our corporate responsibility.这是我们共同的责任。
• His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。

2 deductions   

扣除( deduction的名词复数 )； 结论； 扣除的量； 推演

参考例句：

• Many of the older officers trusted agents sightings more than cryptanalysts'deductions. 许多年纪比较大的军官往往相信特务的发现，而不怎么相信密码分析员的推断。
• You know how you rush at things,jump to conclusions without proper deductions. 你知道你处理问题是多么仓促，毫无合适的演绎就仓促下结论。

3 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

4 overhaul   

v./n.大修，仔细检查

参考例句：

• Master Worker Wang is responsible for the overhaul of this grinder.王师傅主修这台磨床。
• It is generally appreciated that the rail network needs a complete overhaul.众所周知，铁路系统需要大检修。

5 mitt   

n.棒球手套，拳击手套，无指手套；vt.铐住，握手

参考例句：

• I gave him a baseball mitt for his birthday.为祝贺他的生日，我送给他一只棒球手套。
• Tom squeezed a mitt and a glove into the bag.汤姆把棒球手套和手套都塞进袋子里。

6 nomination   

n.提名，任命，提名权

参考例句：

• John is favourite to get the nomination for club president.约翰最有希望被提名为俱乐部主席。
• Few people pronounced for his nomination.很少人表示赞成他的提名。

7 democrat   

n.民主主义者，民主人士；民主党党员

参考例句：

• The Democrat and the Public criticized each other.民主党人和共和党人互相攻击。
• About two years later,he was defeated by Democrat Jimmy Carter.大约两年后，他被民主党人杰米卡特击败。

8 earnings   

n.工资收人；利润，利益，所得

参考例句：

• That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
• Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。