‘We gotta pay for this’: Biden proposes corporate tax rises to pay for infrastructure pr …

we gotta pay for this biden proposes corporate tax rises to pay for infrastructure projects

Sumary of ‘We gotta pay for this’: Biden proposes corporate tax rises to pay for infrastructure projects:

  • It would include higher taxes on companies’ overseas earnings, a minimum tax on profits reported to investors, and more tax enforcement..
  • It would also see the 21% corporate tax rate (set four years ago by Mr Biden’s predecessor Donald Trump) raised to 28%..
  • Even if Mr Biden’s tax plan does not get the approval of congress and the proposed corporate tax rate has to be watered down to 25%, it could still hit earnings by 3.6%, they added….

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