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President Joe Biden may not achieve his proposed corporate tax rise to 28%, but lawmakers and corporations could agree on a 25% rate as a compromise, White House officials and business groups told Reuters.
The US corporate tax rate is 21%, but Biden wants to raise it to help fund his $2 trillion infrastructure plan. He defended his 28% rate proposal on Wednesday, saying he was “sick and tired of ordinary people being fleeced” while large firms paid little or no income tax — but added that he was “wide open” to negotiating details ⇒
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