General World News

Biden starts selling major corporate tax hikes while opening the door to a compromise

President Joe Biden and Janet Yellen White House.JPG

Summary List Placement

The Biden administration unveiled a proposal for a series of corporate tax hikes on Wednesday, projecting they would raise $2.5 trillion over 15 years to cover all of their infrastructure spending. But soon afterward, officials signaled an openness to compromise with lawmakers on the size of a corporate tax increase.

The 17-page report is designed as a sales pitch as the White House moves to garner support for its infrastructure plan just released last week. Major parts include:

  • Raising the corporate tax rate from 21% to 28%.
  • Establishing a global minimum tax for multinational corporations.
  • Setting a minimum details ⇒

    BusinessMediaguide.Com portal received this content from this noted web source: BusinessInsider.Com