General Electric CEO Jeff Immelt said the U.S. should consider eliminating tax loopholes and reduce the statutory corporate rate. "Corporate tax in this country needs to be reformed," Mr. Immelt said. "Stuff that the deficit commission came up with, which was a lower corporate tax rate ending every loophole, is what we would take. ... The fact is I'd take Germany's or Japan's or the U.K.'s corporate tax policy today, sight unseen, without any dispute."
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