US President Joe Biden wants to reverse his predecessor Donald Trump’s tax cuts for the wealthy to pay for a huge middle class families spending plan, senior administration officials said Wednesday.
Biden will use his speech to a joint session of Congress to unveil the $1.8 trillion American Families Plan, funded by ending Trump’s tax cuts and closing loopholes used by the most wealthy to escape paying their share, officials said.
“The president will be proposing a set of measures to make sure the wealthiest Americans pay the taxes that they owe, while also ensuring that no one making less than $400,000 a year will see their taxes go up,” one official, who asked not to be identified, told reporters.
Biden to propose increasing corporate tax from 21 pct to 28 pctUS President Joe Biden will on Wednesday propose raising corporate tax from 21 percent to 28 percent to finance an ambitious plan to invest in ... Economy
Biden says talks ongoing about US shipments of COVID-19 vaccine abroadThe US still expects to send COVID-19 vaccines to India and other countries amid ongoing discussions over how soon doses could be shipped out even as ... Coronavirus
Biden’s first 100 days: COVID-19, jobs, foreign policy, immigration, guns and dogsUS President Joe Biden marks 100 days in office on Friday, April 30.Judging a president’s performance after 100 days in office is an American ... Features