Biden eyes 15% minimum corporate tax rate to pay for infrastructure
Taxes,Joe Biden,Domestic Policy,Infrastructure,Corporate Taxes
President Joe Biden has proposed focusing on a minimum corporate tax rate of 15%, as well as increased Internal Revenue Service funding, as a way to to pay for a possible infrastructure package, White House press secretary Jen Psaki confirmed Thursday.
Driving the news: The proposal could could help negotiations with Senate Republicans. Biden made the offer in his meeting yesterday with Sen. Shelley Moore Capito (R- W.Va.) who is leading a group of GOP centrists trying to find a compromise on infrastructure spending.
The Washington Post first reported Biden’s new offer, couching it as a concession to Republicans who are unwilling to touch any of the 2017 tax cuts signed into law by former President Trump.
Biden and Moore Capito are trying to find an agreement between Biden’s initial $2.3 trillion plan the would fund traditional infrastructure projects as well as billions for caregivers and other expanded social programs and the GOP's $1 trillion counter offer that focuses on infrastructure projects.
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