Obama Tax-Code Overhaul May Raise Burden on Some Businesses

Obama Tax-Code Overhaul May Raise Burden on Some Businesses

Pablo Martinez Monsivais/Pool via Bloomberg

U.S. President Barack Obama said in the speech that he wants to rid a “rigged” tax code of “loopholes” that allow some corporations to pay less than others, and would use the savings to reduce the top 35 percent corporate rate.