Sens. Rand Paul and Mitch McConnell have proposed the creation of Economic Freedom Zones (S. 1852) in which tax breaks would flourish: flat corporate and individual rates, no capital gains tax, reduced payroll taxes, increased business expensing, and education and charitable tax credits. President Obama has called for Promise Zones that would offer tax breaks similar to those that were permitted for empowerment zones (these breaks expired at the end of 2013).
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