Democrats May Drop Higher Corporate Tax Rate

“Senior Biden officials briefed top Democratic lawmakers on a potential shift in the party’s tax plans on a private call on Wednesday, as the White House searches for unity on how to pay for its multi-trillion-dollar economic package,” the Washington Post reports.

“While the Biden administration initially proposed increasing the corporate tax rate to 28 percent, a move that would unwind the tax cuts under former president Donald Trump, the president’s aides on Wednesday instead discussed an alternative range of tax hikes, likely excluding a corporate tax rate hike as part of a new source of revenue for the package.”

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