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Beginning in 2018, one of the major changes regarding the corporate tax rate was its reduction from 35% to a flat rate of 21%.

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Beginning in 2018, one of the major changes regarding the corporate tax rate was its reduction from 35% to a flat rate of 21%. Explain how this reduction was done to make the U.S. corporate tax rate more competitive with rates imposed by other countries and to encourage economic activity in the U.S.

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