The Treasury Department will unveil President Barack Obama's corporate tax reform plan on Wednesday, senior administration officials told CNN.
Treasury Secretary Tim Geithner told a Senate panel last week the plan will be an effort to find "common ground" on broad principles between Republicans and Democrats on Capitol Hill.
"We want to maximize the chance we can take advantage of that (common ground) to build consensus on something that's going to work," Geithner told the Senate Finance Committee.
The Obama administration has been talking about unveiling a plan to fix the corporate tax system for well over a year.
Senior administration officials Tuesday would not provide details of the president's plan. They said it will be consistent with his commitment to fairness and the message he laid out in the State of the Union address.
In the State of the Union address and in subsequent speeches, Obama has called for ending tax breaks for companies that outsource jobs overseas and lowering rates for U.S. businesses that create jobs at home.
Sorry, I'm just not buying it. Obama is only proposing this to get mileage for his reelection campaign. When it invariably fails or they hammer out some "compromise" that isn't remotely effective, Obama will then blame the Republicans. In the meantime he will keep working for G.E. and the others.