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Biden administration makes pitch for higher business taxes

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Biden jobs plan

President Joe Biden is set to give remarks on his plans for job growth in the U.S. https://wkow.com/

Posted by WKOW 27 on Wednesday, April 7, 2021

The Biden administration is drilling down on the argument that higher corporate tax rates would ultimately help an ailing economy.

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Treasury Secretary Janet Yellen says that the resulting investments in infrastructure and workers from the taxes would boost growth.

President Joe Biden has proposed a $2.3 trillion infrastructure plan that would largely be funded by a 28% corporate tax rate and an expanded global minimum tax set at 21%.

The increases would produce roughly $2.5 trillion in revenues over 15 years, enough to cover the eight years’ worth of infrastructure investments being proposed.

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Associated Press

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