President Joe Biden wants $1 trillion in new infrastructure spending and refuses to budge on corporate tax hikes, it was reported Thursday.
Biden met with Sen. Shelley Moore Capito, R-W.Va., the top Senate Republican negotiating infrastructure, on Wednesday. Although little was said by the two sides after the closed-door session, Politico reported details.
Three sources told Politico that Biden lowered his $1.7 trillion demand on new spending to $1 trillion but was holding firm on corporate tax hikes helping to pay for the infrastructure package.
The Washington Post, though, reported Biden suggested a minimum corporate tax rate of 15 percent, seeking to take aim at dozens of profitable U.S. corporations that pay little to the federal government annually, according to a source.
The Post said Biden still wants to raise the corporate tax rate, currently 21 percent, to 28 percent but that could be pursued outside of the infrastructure negotiations.
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{Matzav.com}
