Biden Said To Mull Dropping Corporate Tax Hike To Fund Jobs Plan – By AFP News (IB Times) / June 3 2021
In an effort to win Republican support for President Joe Biden’s infrastructure and jobs plan, the White House on Thursday signaled it was willing to negotiate over his pledge to increase the corporate tax rate.
The Washington Post reported Biden offered to drop his proposal to return the top corporate tax rate to 28 percent — where it had been before a Republican-backed tax cut in 2017 — from its current 21 percent level, something the opposition party strenuously opposes.
Citing sources familiar with the discussions, the newspaper said the offer was made in a private White House meeting on Wednesday with Republican Senator Shelley Moore Capito, as the president looks for opposition support for his spending plans.
White House Press Secretary Jen Psaki however said Biden has not entirely give up on the corporate tax increase which he sees as “a viable pay-for.”
But she said “those pay-fors can be moved around,” signaling there could be some flexibility in the current negotiations.
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