Biden campaigned on not raising taxes on anyone making less than $400,000, which would severely limit Democrats’ ability to fund the infrastructure plan should the GOP and lobbyists convince Congress to squash a corporate tax hike. Biden criticized 55 of the largest U.S. companies this week for using “various loopholes where they pay not a single solitary penny in federal income tax,” in contrast to middle-class families who pay tax rates of more than 20 percent.
“It’s just not fair. It’s not fair to the rest of the American taxpayers,” the president said, citing a study by the Institute on Taxation and Economic Policy. Read more