Sen. Proposes Flat Tax For Economically Distressed Areas

Law360, New York (December 19, 2013, 2:50 PM EST) -- Sen. Rand Paul, R-Ky., unveiled legislation Wednesday to slash federal income and corporate taxes in high-unemployment regions to a flat 5 percent in order to spur economic development.

Paul's Economic Freedom Zones Act of 2013, which is also co-sponsored by Sen. Mitch McConnell, R-Ky., would create free market enterprise zones in areas where unemployment rates are at least 1 1/2 times greater than the national average, as well as in bankrupt and other economically distressed areas in an effort to spur job growth and educational opportunities....
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