HOLD THE LINE

Biden Offers GOP a 15% Corporate Tax Minimum for Their Buy-In to His Infrastructure Deal: WaPo

The Washington Post reports the president suggested a new bare minimum for companies that pay nothing to get Republicans on board for $1 trillion agreement.

President Joe Biden on Wednesday suggested a new minimum corporate tax rate of 15 percent in an attempt to get Republicans on board with his proposed $1 trillion infrastructure plan, The Washington Post reported, citing a source familiar with the details of his Wednesday meeting with Sen. Shelley Moore Capito of West Virginia, the GOP’s chief infrastructure negotiator. Biden’s offer comes after Republicans shot down an earlier proposal to boost the corporate tax rate from 21 percent to 28 percent. However, the Post’s source said Biden still believes in raising rates on corporations and wealthy individuals; the White House would like to see increased enforcement on those who have thus far relied on loopholes to reduce their tax burdens to, at times, almost nothing, according to the Post. Of the negotiations, Sen. Bernie Sanders (I-VT) tweeted, “If Republicans don’t want to cooperate and help us seriously address the many crises we’re facing today, then, yes, we have to move forward without them to rebuild our crumbling infrastructure and create millions of good-paying, union jobs.”