Sen. Elizabeth Warren (D., Mass.) said Wednesday that the U.S. corporate tax rate—among the highest in the world—is not too high.
President Donald Trump's tax plan released in April would lower the corporate tax rate to 15 percent, while reducing several existing tax deductions to make up the difference. But Warren disagrees with the plan.
"Somebody’s going to have to pay the bills to keep the government running," Warren told Yahoo. "A generation ago, corporations paid 30% of what it costs to run the federal government. Today, corporations pay less than 10 percent."
Warren said her alternative proposal to raise the corporate tax rate was rooted in "fairness."
"The way I see it, taxes and the whole debate around taxes is ultimately going to be about who pays a fair share to keep this government running and that’s the question we need to look at on the corporate side and on the individual side," she said.
The United States has the third highest corporate tax rate in the world and the highest in OECD countries. U.S. corporations pay 39.1 percent in state and federal taxes, compared to as low as 15 percent in countries like Canada and Germany.