Corporate Tax

GOP Says Company Tax Hike in Biden Admin. Plan Eliminates Jobs

From building roads and bridges to caring for the elderly and promoting electric vehicles. The Biden government’s $ 2 trillion employment plan is broad.

However, critics point out that only an estimated * 5 percent * will go directly to traditional infrastructure projects.

“While the Biden administration is talking about an infrastructure plan, it looks to me more like a $ 2 trillion tax hike plan,” said Mississippi governor Tate Reeves. “It will create significant challenges in our economy. It will slow GDP and cause Americans to lose significant numbers of jobs.”

Biden administration officials attended Sunday morning talk shows to defend her.

“I think it is important that we improve our definition of our infrastructure,” said White House economic adviser Cecilia Rouse. “One that meets the needs of a 21st century economy, and that means that we must finance and promote the structures that enable us to maximize our economic activity.”

“Traditionally, the Internet was not viewed as infrastructure, as it did not exist in the Eisenhower years, of course, but infrastructure investments must include a glimpse into the future,” said Transport Secretary Pete Buttigieg.

The Biden administration expects big corporations to pay the bill … and reverse corporate tax from its cut in the Trump era.

“When you talk about large corporations and say we should increase their tax rate from 21% to 28%, let me just say that it will reduce job creation in the United States, and that is exactly why we have The tax rate lowered those tax rates in 2017, “said Republican Senator Roger Wicker of Mississippi.

As for the American public … a new Reuters-Ipsos poll shows spending on infrastructure like roads and bridges is largely supported. But for President Biden’s broader plan … 45% support it, 27% oppose it … and 28% are still unsure.

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