Biden's Corporate Tax Hike Would Have 3 Huge Consequences, Tax Foundation Finds - Foundation for Economic Education
President Biden is pushing a $1.9 trillion COVID-19 spending package which he claims will boost the economy. But a new study warns that one other key policy Biden has proposed would hurt the economy and have at least three major consequences for workers. The president wants to raise the corporate tax rate from 21 percent to 28 percent. He argues that this is about making Big Business “pay it’s fair share” and raising revenue the government can use to help people. Yet a recently-released report from the right-leaning Tax Foundation concludes that this would make the US corporate tax rate...
Source: fee.org