The Obama administration has proposed a full review of America's corporation tax rates.
It is suggesting that the headline rate should be brought down from 35% to 28% in general and to around 25% for manufacturing.
The proposals have been sent to the budget sub-committees in Congress and will be discussed there before any legislative proposals are produced.
At their heart are attempts to simplify America's complicated corporate tax system and to reduce the headline rate of corporation tax, which is one of the highest in the developed world.
But there are other proposals which might impinge on Ireland's position as a big recipient of American investment.
The president is proposing an end to a tax break which allows American companies to get a tax credit for any investment overseas.
President Obama is also proposing to impose a minimum tax on overseas profits so as to prevent American companies from reaping the benefits of locating profits in low-tax countries.
The report is a joint report by the White House and the Treasury Department.
Senior Democrats have been uneasy with the rate of corporation tax and with what they regard as the "over-generous" treatment of foreign profits earned by American companies.
The aim of the proposals is to maximize the investment, growth and job potential of American companies in the United States.
Ireland is not mentioned as one of the countries which have a high amount of US company profits relative to their GDP, or size of economy, but it is one of the biggest recipients of foreign direct investment by American companies in the world.
