Posted 3/7/2024, 10:06:00 AM
Biden Proposes Corporate Tax Hikes to Fund Middle-Class Cuts, Health Care Savings
- Biden to propose raising corporate taxes, including a 28% tax rate and a minimum tax for major companies
- Seeks to cut budget deficits and use new revenues to provide middle class tax cuts
- Wants to expand Earned Income Tax Credit and Child Tax Credit to help lower-income families
- Would make health insurance premiums permanently lower for those on Affordable Care Act plans
- Budget plan would aim to trim national debt by $3 trillion over 10 years