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Biden White House

Joe Biden is set to ax his flagship corporate tax hike to try and pass his embattled spending bill

Illustration from file and provided images

Hike Would Have Raised Rate From 21% To 28%

By ARIEL ZILBER

FOR DAILYMAIL.COM and REUTERS

The White House told Democratic lawmakers on Wednesday that a proposed hike in US corporate taxes is unlikely to make it into their signature social spending bill, according to a congressional source familiar with the discussions.

President Joe Biden’s plans to hike the corporate tax rate to 28 percent from 21 percent, a key campaign promise, are likely to be one of the steep concessions he makes to steer his economic revival package through Congress, the White House disclosed in the private meeting with top Democrats.

Click the link below to read the rest of this story.

https://www.dailymail.co.uk/news/article-10113721/White-House-tells-Democrats-corporate-tax-hike-unlikely-current-bill-source.html

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