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President Joe Biden has repeatedly hinged his massive spending plans on a series of tax hikes with the single rule that “no one making under $400,000 will see their federal taxes go up.”

The assertion is true, depending on your definition of “no one.”

Biden repeated the claim when unveiling the American Jobs Plan in a Wednesday speech. The $2.3 trillion spending package includes funds for traditional infrastructure projects, affordable housing, clean-energy investments, and public-school renovations. The plan would be paid for with a higher corporate tax rate and a global minimum tax for US corporations details ⇒

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