The Week: Biden’s new $1 trillion infrastructure offer reportedly swaps in 15 percent minimum corporate tax for tax hike
media mention“Corporations have paid a declining share in federal taxes since the 2017 GOP tax law dramatically slashed the corporate tax rate,” the Post reports, and 55 Fortune 500 corporations paid no federal income tax in 2020, according to the left-leaning Institute of Taxation and Economic Policy. Biden’s minimum tax proposal was originally part of a second package, the American Families Plan, and the White House says Biden is still committed to raising the corporate tax rate through other legislation, if need be.