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Progress on rising the corporate tax rate is

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JusticeWillWin   Tuesday, 09/14/21 03:13:24 PM
Re: None
Post # of 676340 
Progress on rising the corporate tax rate is POSITIVE for COOP

House Democrats float 26.5% corporate tax rate to fund Joe Biden’s budget
https://www.ft.com/content/452fb8b3-fd2a-4403-8f2e-43f8895a9131

COOP's DTAs would become more valuable!

From the Q1 call:

https://www.fool.com/earnings/call-transcripts/2021/04/30/mr-cooper-group-inc-coop-q1-2021-earnings-call-tra/

Quote:
While on the subject of the DTA, I'd like to remind everyone that the Biden Administration has proposed raising the corporate tax rate to as high as 28%. Now, if this goes through, it will result in a mark up to our DTA by nearly $350 million or about $4 per share in tangible book value.



And from the Q2 call, where they expected "only" 25%:
https://www.fool.com/earnings/call-transcripts/2021/07/30/mr-cooper-group-inc-coop-q2-2021-earnings-call-tra/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article

Quote:
While we're on the topic of the DTA, I'd remind you that the Biden administration is working to enact an increase in corporate tax rates, which according to media reports, could result in a new tax rate of 25%. And that higher level, if it were passed into law today, would result in a markup to our DTA of approximately $180 million, which would add about $2 per share to TBV.



So 26.5% is in the middle and the value of COOP's DTAs would rise ~$265 million!

======> JUST MY PERSONAL OPINION, NO INVESTMENT ADVICE!
======> I am long COOP, FNMA, FMCC
======> #ShareholderRightsMatter

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