President Joe Biden is considering tax hikes, new fees, and a corporate tax rollback to pay for the infrastructure plan that is now taking shape, according to White House press secretary Jen Psaki and a California Democrat familiar with discussions on the matter. Biden floated a $2 trillion infrastructure bill while campaigning, but his administration has so far declined to specify a price tag. In remarks to “Axios on HBO” on Monday, Sen. Joe Manchin (D-W.Va.) suggested the package could cost as much as $4 trillion, adding that he would oppose taking on more debt to fund it but would instead insist on tax hikes. Manchin told the outlet that he backed a range of tax increases, including repealing “a lot of” President Donald Trump’s tax cuts and raising the corporate tax rate from the current 21 percent to “at least” 25 percent. At a March 8 press briefing at the White House, …
Biden Mulls Funding Infrastructure Plan with Tax Hikes, Corporate Tax Cut Rollbacks, New Fees
March 9, 2021
admin
0 Comment