The country’s top business leaders are pushing against President Biden’s plans to raise corporate taxes to pay for his infrastructure plan as the American company continues to delve into a growing number of hot-button policies that take it in and out of lawmakers and stakeholders test the development of his public voice, The Washington Post Reports.
Since the beginning of the year, U.S. companies have stopped donations to Republican lawmakers who opposed certification of the presidential election, expressed their desire to invest in infrastructure, opposed tax increases, and opposed controversial state electoral laws proposed by Republicans. Now the Business Roundtable, a lobby group that represents the managing directors of more than 220 large companies, is planning a digital and radio advertising campaign against Biden’s proposal to increase the corporate tax rate from 21 to 28 percent.
The effect is something like a split screen for those watching America’s largest corporations stepping off the sidelines into the social and political hand-to-hand combat that employees and the public are calling for.
The Business Roundtable published one on Monday survey This shows that 75% of the 178 members surveyed said a tax hike would negatively affect their investment in research and development. The group, made up of CEOs from aerospace, manufacturing, technology, retail, finance, and other sectors, claims in a new multimillion-dollar advertising campaign that higher tax bill is holding back growth and making their businesses less competitive would. Read the full story.