Washington: President Joe Biden on Thursday proposed a minimum tax on billionaires and an almost tripling of corporate taxes as part of a revenue overhaul in his proposed new budget, which is certain to be rejected by Republicans in Congress. The White House said Biden wants a minimum 25 percent tax on the wealthiest few Americans. The corporate tax would increase significantly to 28 percent, reversing a huge tax cut enacted under president Donald Trump in 2017, the White House said. President Biden presented Thursday what amounts to his 2024 reelection pitch on the US economy, with a proposed budget targeting the rich with new taxes, while promising to assist the country’s “working families.” Read all the Latest News, Trending News, Cricket News, Bollywood News, India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.
Biden pitches billionaires, corporate tax hikes in budget
Biden pitches billionaires, corporate tax hikes in budget
agence france-presse
• March 9, 2023, 23:57:49 IST
President Joe Biden presented Thursday what amounts to his 2024 reelection pitch on the US economy, with a proposed budget targeting the rich with new taxes, while promising to assist the country’s “working families.”
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