White House defends hiking taxes on corporations to pay for infrastructure
CNN
Faced with major blowback over its $2 trillion infrastructure proposal, the Biden administration is rolling out a campaign to justify why it needs to hike corporate taxes to fund the massive plan.
Noting that corporate tax collections have fallen to their lowest level since World War II, Treasury Secretary Janet Yellen said Wednesday that Republicans' 2017 Tax Cut and Jobs Act did not lure new production or investment to the US. Instead, it gave companies incentives to send workers and profits abroad. Also, other countries lowered their corporate rates in response to undercut the US, she said in a conference call with reporters.President Joe Biden warned against a streak of “semi-isolationism” in the US as he stressed the importance of alliances during a symbolic visit to the Aisne-Marne American Cemetery on Sunday, honoring the thousands of Americans who died in World War I at a site former President Donald Trump skipped during a 2018 visit to Paris.
Looking to shore up Latino votes in Nevada and Arizona for his reelection campaign, President Joe Biden is on the verge of soon following up last week’s executive action aimed at curbing border crossings with another move focused on providing legal status for long-term undocumented immigrants married to American citizens and without criminal records.