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June 3, 2011
House Ways and Means Committee leaders said June 2 that they are willing to consider eliminating the research and development tax credit and the tax code Section 199 manufacturing deduction as part of a broader effort to reduce the corporate tax rate....
Some Democrats used the hearing to question why U.S. companies needed lower tax rates at all.
Rep. Pete Stark (D-Calif.) questioned James Zrust, vice-president of tax at The Boeing Co., on the company's activities, citing a June 1 report from Citizens for Tax Justice that found that the company—along with 11 other major corporations—had negative tax liabilities despite healthy U.S. profits over the period 2008 to 2010....