President Biden on Monday defended his push to raise corporate taxes to pay for higher infrastructure spending, while Treasury Secretary Janet Yellen made the case for a global minimum tax that would prevent U.S. companies from moving overseas to avoid higher taxes at home.
White House press secretary Jen Psaki said Wednesday that neither individuals nor families earning less than $400,000 per year will see their taxes increase under President Biden’s tax plans.
President Biden has explicitly vowed that Democrats will increase taxes on the wealthy, adding fuel to congressional Democrats’ plan to ram through higher taxes on party-line votes.
White House press secretary Jen Psaki said Monday that President Biden is focused on making wealthy individuals and corporations pay their “fair share” in taxes as talks heat up on Capitol Hill about how to pay for new spending priorities in areas like infrastructure and climate change.
