Biden floats 15% minimum corporate tax to pay for infrastructure: report

President Joe Biden has signaled that he would support major changes to his tax proposal to win Republican support on an infrastructure package, the Washington Post reported Thursday. In a closed-door meeting with Sen. Shelley Moore Capito of West Virginia, Biden recommended a new, minimum corporate tax of 15%, the Post reported. That would take aim at dozens of profitable U.S. corporations that pay little to nothing to the federal government annually. Biden outlined a plan for about $1 trillion in new spending financed through tax changes that don’t appear to raise the top corporate rate, the Post said. Biden presented his plan during a meeting Wednesday with Capito, the GOP’s chief negotiator on infrastructure.

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