Washington: President Joe Biden on Thursday proposed a minimum tax on billionaires and nearly tripling corporate taxes as part of a revenue reform in his proposed new budget that is certain to be rejected by Republicans in Congress.
The White House said Biden wants a minimum tax of 25% on the wealthiest Americans. The White House said the corporate tax would rise to 28% in 2017, reversing a major tax cut enacted under President Donald Trump.
The White House said Biden wants a minimum tax of 25% on the wealthiest Americans. The White House said the corporate tax would rise to 28% in 2017, reversing a major tax cut enacted under President Donald Trump.
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