Taxes
Biden Floats 15% Minimum Corporate Tax in Talks With GOP
- Proposal is in latest offer in infrastructure negotiations
- Biden ‘absolutely not’ abandoning 28% corporate-rate plan
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President Joe Biden has pitched to Republicans the idea of a 15% minimum tax on U.S. corporations, along with strengthened IRS enforcement efforts, as a way to fund a bipartisan infrastructure package.
The proposal sets aside the Biden administration’s proposal to raise the headline corporate income rate to 28% from 21% -- a non-starter for Republican lawmakers -- though that could be pursued elsewhere. White House Press Secretary Jen Psaki confirmed the offer during a briefing Thursday.