Corporate tax revenue falls even as profits soar under Trump

President Donald Trump arrives to deliver remarks for a campaign rally at The Oncenter in Syracuse, N.Y., on Friday, Oct. 9, 2026. Corporate tax revenue has fallen precipitously under President Trump even as companies’ profits have surged to record highs, a divergence that began after Republicans approved tax breaks allowing firms to write off the cost of their investments more quickly. (Haiyun Jiang/The New York Times) By ANDREW DUEHREN Corporate tax revenue has fallen precipitously under…

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