Connect with us

Hi, what are you looking for?

Business

Biden Turns to Taxes on Corporations, Millionaires to Pay for Agenda

Biden Turns to Taxes on Corporations, Millionaires to Pay for Agenda

WASHINGTON—President Biden outlined $1.85 trillion in proposed tax increases and other revenue generators on Thursday to pay for his social and climate agenda, offering a hodgepodge of strategies designed to navigate red lines set by the administration and congressional Democrats.

The plan relies on a 15% corporate minimum tax, surtaxes on the very highest earners, tougher tax enforcement and higher taxes on U.S. companies’ foreign earnings.

You May Also Like

World

France, which has opened its borders to Canadian tourists, is eager to see Canada reopen to the French. The Canadian border remains closed...

Health

Kashechewan First Nation in northern Ontario is experiencing a “deepening state of emergency” as a result of surging COVID-19 cases in the community...

World

The virus that causes COVID-19 could have started spreading in China as early as October 2019, two months before the first case was identified in the central city of Wuhan, a new study...

World

April Ross and Alix Klineman won the first Olympic gold medal for the United States in women’s beach volleyball since 2012 on Friday,...