Biden Looks to Raise US Corporate Taxes, with Dozens of Companies Now Paying Nothing
U.S. President Joe Biden is looking to raise corporate income tax rates to help pay for his proposed $2.3 trillion infrastructure spending plan, but dozens of the country’s biggest and best-known companies are currently legally avoiding paying any federal taxes. Biden says he wants to raise the corporate income tax rate from 21% to 28%. The rate was cut from 35% in 2017 under Biden’s predecessor, Donald Trump. FILE – Treasury Secretary Janet Yellen speaks during a virtual roundtable with participants from Black Chambers of Commerce across the country to discuss the American Rescue Plan, Feb. 5, 2021.On Monday, U.S. Treasurymore
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