Trump offers CEOs a tax cut, while Biden touts support for global alliances
6 months, 4 weeks ago

Trump offers CEOs a tax cut, while Biden touts support for global alliances

Associated Press  

WASHINGTON — Former President Donald Trump told an influential group of CEOs that he wants to further cut the corporate tax rate he lowered while in office, while President Joe Biden’s chief of staff separately told them that the Democratic incumbent’s emphasis on global alliances would help their businesses. Recent economic research indicates that Trump’s corporate tax cuts did boost business investment, but not by enough for the additional growth needed to cover the cost of those tax cuts. BRT members from Cisco and Procter & Gamble told reporters Wednesday that higher rates would cause them to invest less in the U.S. Jon Moeller, P&G’s CEO and board chairman, said a tax increase would likely be passed on to consumers in the form of higher prices, limit wage growth for employees and be borne by shareholders. “It’s a societal impact.” Biden’s budget proposal would raise corporate taxes by nearly $2.2 trillion over 10 years.

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History of this topic

Trump ally seeks 'dramatic increase in corporate taxes' — until 'they start squealing'
3 weeks ago

Trump ally seeks 'dramatic increase in corporate taxes' — until 'they start squealing'

Raw Story  

One of President-elect Donald Trump's longtime confidants is calling on him to inflict "pain" on the wealthiest Americans and corporations in the form of higher taxes during his second term in the White House. In a wide-ranging Friday interview with Semafor reporter David Weigel, Steve Bannon — who was Trump's former chief White House strategist — indicated he wanted the …

President-elect Trump promised to extend tax cuts, but how will the government make up a $4 trillion loss of revenue?
4 weeks ago

President-elect Trump promised to extend tax cuts, but how will the government make up a $4 trillion loss of revenue?

NPR  

President-elect Trump promised to extend tax cuts, but how will the government make up a $4 trillion loss of revenue? SIMON: President-elect Trump promised to extend tax cuts he passed during his first term in office during this last campaign. JOSEPH ROSENBERG: They're really going to have to figure out if that's a price tag they're willing to swallow or …

Canada Pressured to Respond to Trump’s Tax Cut Regime
1 month ago

Canada Pressured to Respond to Trump’s Tax Cut Regime

Live Mint  

Donald Trump’s planned tax cuts would wipe out Canada’s slim corporate tax advantage, likely driving more capital from the northern nation and deepening its productivity crisis. Canada’s Finance Minister Chrystia Freeland estimated earlier this year that the tax rate on new business investment would rise to 16.8% by 2028, more than eight points lower than a projected 24.9% in the …

Trump’s plans to extend tax cuts will likely spur economic growth − but there's a cost
2 months ago

Trump’s plans to extend tax cuts will likely spur economic growth − but there's a cost

Raw Story  

The economy was one of their top issues as voters went to the polls this year. Extending Trump’s 2017 tax law I followed the election closely, with a keen interest on each candidate’s economic plans. Extending the individual income tax cuts would keep marginal tax rates from jumping and lead – relative to letting them expire – to an increase …

Frustrated Americans await the economic changes they voted for with Trump
2 months ago

Frustrated Americans await the economic changes they voted for with Trump

Associated Press  

WASHINGTON — Fed up with high prices and unimpressed with an economy that by just about any measure is a healthy one, Americans demanded change when they voted for president. Trump policies could boost inflation The Peterson Institute for International Economics, a leading think tank, has estimated that Trump’s policies would slash the U.S. gross domestic product — the total …

Big corporations used Trump tax cuts to pump $839B into buybacks and dividends: report
2 months, 2 weeks ago

Big corporations used Trump tax cuts to pump $839B into buybacks and dividends: report

Raw Story  

The 15 largest corporate beneficiaries of former President Donald Trump's 2017 tax law have dumped a combined $839 billion into executive-enriching stock buybacks and dividends since the measure's passage, according to research released Wednesday by the progressive watchdog group Accountable.US. "There's nothing to be gained for everyday Americans by doubling down on the Trump corporate tax breaks—a historic mistake that …

15 big corporations used Trump tax cuts to pump $839 billion into buybacks, dividends
2 months, 2 weeks ago

15 big corporations used Trump tax cuts to pump $839 billion into buybacks, dividends

Raw Story  

The 15 largest corporate beneficiaries of former President Donald Trump's 2017 tax law have dumped a combined $839 billion into executive-enriching stock buybacks and dividends since the measure's passage, according to research released Wednesday by the progressive watchdog group Accountable.US. "There's nothing to be gained for everyday Americans by doubling down on the Trump corporate tax breaks—a historic mistake that …

Expert: Analysis shows Trump tax plan "taking money" from bottom 95% and "giving it" to richest 5%
3 months ago

Expert: Analysis shows Trump tax plan "taking money" from bottom 95% and "giving it" to richest 5%

Salon  

Former President Donald Trump's proposed tax plan would create tax cuts for the nation's top 5% of earners while leaving the rest of Americans to shoulder tax increases by 2026, according to a new analysis. We need your help to stay independent Subscribe today to support Salon's progressive journalism The income tax exemptions, green-energy credit repeals and 2017 tax law …

Donald Trump Tax Plans Would Increase Taxes On 95% Of Americans, Analysis Finds
3 months ago

Donald Trump Tax Plans Would Increase Taxes On 95% Of Americans, Analysis Finds

Huff Post  

LOADING ERROR LOADING Former President Donald Trump’s domestic policy agenda would amount to a tax increase on the vast majority of American households, according to a new analysis by a Washington, D.C., think tank, thanks largely to his proposed tariffs on imported goods. “We’re doing tariffs on other countries.” The conservative Tax Foundation has said Trump’s tariffs would essentially be …

Analysis shows Trump tax plan would make rich people richer — and working people poorer
3 months, 1 week ago

Analysis shows Trump tax plan would make rich people richer — and working people poorer

Raw Story  

Republican presidential nominee Donald Trump's proposal to further reduce the U.S. corporate tax rate from 21% to 15% would make the bottom half of the nation's income distribution poorer while boosting the fortunes of those at the very top, according to an analysis published Thursday by economists at American University. If implemented, the economists found, Trump's plan would "modestly reduce" …

Outrage as Dems name and shame companies prioritizing exec pay over taxes
3 months, 1 week ago

Outrage as Dems name and shame companies prioritizing exec pay over taxes

Raw Story  

A group of congressional Democrats and Independent Sen. Bernie Sanders on Friday highlighted dozens of profitable U.S. corporations that have paid their executives more than they've paid in federal income taxes in recent years, a problem that the lawmakers attributed in large part to former President Donald Trump's massive tax-cut package that Republicans are working to extend. "In the first …

Treasury proposes rule to prevent large corporations from evading income taxes
3 months, 4 weeks ago

Treasury proposes rule to prevent large corporations from evading income taxes

Associated Press  

WASHINGTON — The Biden administration on Thursday proposed a new rule that would require the largest U.S. companies to pay at least 15% of their profits in taxes. Treasury Department officials estimate that about 100 of the biggest corporations — those with at least $1 billion in annual profits — would be forced to pay more in taxes under a …

Trump says he’ll boost the economy by cutting federal spending and corporate taxes
4 months ago

Trump says he’ll boost the economy by cutting federal spending and corporate taxes

LA Times  

Donald Trump speaks at a campaign event at the Economic Club of New York on Thursday. Former President Trump told a group of executives and industry leaders on Thursday that he wants to lead a “national economic renaissance” by slashing regulations to boost energy production, embracing cryptocurrencies and drastically cutting government spending as well as corporate taxes for companies that …

Kamala Harris proposes raising corporate tax rate to 28 percent; Here's all you need to know
4 months, 3 weeks ago

Kamala Harris proposes raising corporate tax rate to 28 percent; Here's all you need to know

Hindustan Times  

U.S. Vice President Kamala Harris is proposing to increase the corporate tax rate to 28% from 21% if she wins a November election against Republican rival Donald Trump, her campaign said on Monday. Kamala Harris, a Democrat, has pledged to maintain President Joe Biden's promise not to raise taxes on people who make $400,000 or less a year. The Committee …

Biden and Trump offer worlds-apart contrasts on issues in 2024’s rare contest between two presidents
5 months, 3 weeks ago

Biden and Trump offer worlds-apart contrasts on issues in 2024’s rare contest between two presidents

Associated Press  

WASHINGTON — Joe Biden and Donald Trump are two presidents with unfinished business and an itch to get it done. During the Jan. 5 speech, Biden said this year’s presidential contest is “all about” whether U.S. democracy will survive and he regularly condemns Trump’s denial that he lost the 2020 general election. Biden instead issued two major executive actions on …

The Trump economy: Slower growth, higher prices and a bigger national debt
5 months, 3 weeks ago

The Trump economy: Slower growth, higher prices and a bigger national debt

Al Jazeera  

Plans to hike tariffs, tighten immigration and cut taxes are likely to crimp growth and fuel inflation, experts say. “A tariff increase covering nearly all goods imports, as Trump recently proposed, goes far beyond any previous action,” Moody’s Analytics said in its report. “There are three main tenets of Trump’s campaign, and they all point in the same inflationary direction,” …

Trump’s economic plans include proposed tariffs, tax cuts and no taxes on tips. Details are scarce
5 months, 3 weeks ago

Trump’s economic plans include proposed tariffs, tax cuts and no taxes on tips. Details are scarce

Associated Press  

WASHINGTON — The first night of the Republican National Convention kept its official focus on the economy Monday even after Saturday’s shooting at a rally in Pennsylvania in which former President Donald Trump was injured. The platform would address illegal immigration in part with the “largest deportation program in American history.” And Trump would also scrap President Joe Biden’s policies …

Biden urged to raise income tax to tackle dangerous US debt
6 months, 2 weeks ago

Biden urged to raise income tax to tackle dangerous US debt

The Telegraph  

Joe Biden must raise income tax and cut pensions spending to slow the dangerous rise in the US national debt, the Organisation for Economic Cooperation and Development has said. Corporate taxes also need to go up, economists suggest, while the US president needs to find a way to control spending on healthcare. The group urged Mr Biden – or Donald …

Mike Pence’s foundation launches a $10 million election-year campaign to preserve Trump-era tax cuts
6 months, 3 weeks ago

Mike Pence’s foundation launches a $10 million election-year campaign to preserve Trump-era tax cuts

Associated Press  

WASHINGTON — Former Vice President Mike Pence’s foundation is launching a $10 million campaign to preserve the Trump-era tax cuts that are set to expire after next year as he presses conservatives not to stray from the fight before the November election. Democratic President Joe Biden has proposed keeping the tax cuts for people making under $400,000 a year while …

Trump vs. Biden: An economic gamble either way
6 months, 3 weeks ago

Trump vs. Biden: An economic gamble either way

Live Mint  

The president’s chihuahuas in the press are running with the line. The Atlantic warns of Mr. Trump’s plan to “supercharge inflation," while the New York Times states: “Trump Vows to Lower Prices. It’s true that another Trump presidency would carry economic risks, though they pale in comparison with a second Biden term. On the other hand, Mr. Trump’s proposal for …

Trump tries to woo billionaire CEOs with promise of another round of tax cuts: report
6 months, 4 weeks ago

Trump tries to woo billionaire CEOs with promise of another round of tax cuts: report

Raw Story  

Former President Donald Trump is trying to push the billionaire businessman class back into his camp with a promise of another round of corporate tax cuts, this time reducing the rate from 21 percent to 20 percent. According to The New York Times, "Mr. Trump made the remarks from a comfortable gray armchair during a conversation with his former economic …

Use Expiring Trump Tax Cuts To Overhaul The Entire Tax System, Groups Say
7 months, 2 weeks ago

Use Expiring Trump Tax Cuts To Overhaul The Entire Tax System, Groups Say

Huff Post  

LOADING ERROR LOADING The $4.6 trillion in tax cuts that expire next year offer a chance to completely revamp the U.S. tax system that should not be missed, more than 100 progressive and economic groups said Tuesday. “Congress should pursue reforms — including corporate tax reforms — that stem the decades-long tide of tax cuts for the rich and corporations …

Extending Trump tax cuts would add $4.6 trillion to deficit: CBO
8 months ago

Extending Trump tax cuts would add $4.6 trillion to deficit: CBO

Raw Story  

As former U.S. President Donald Trump and congressional Republicans campaign on extending their 2017 tax cuts if elected in November, a government analysis revealed Wednesday that doing so would add $4.6 trillion to the national deficit. The new CBO report—sought by U.S. Senate Budget Committee Chair Sheldon Whitehouse and Senate Finance Committee Chair Ron Wyden —says continuing the income, business, …

Tax Day reveals a major split in how Joe Biden and Donald Trump would govern
8 months, 3 weeks ago

Tax Day reveals a major split in how Joe Biden and Donald Trump would govern

Associated Press  

Follow live: Updates from AP’s coverage of the presidential election. WASHINGTON — Tax Day reveals a major split in how Joe Biden and Donald Trump would govern: The presidential candidates have conflicting ideas about how much to reveal about their own finances and the best ways to boost the economy through tax policy. Raise your hand,” Biden said Tuesday at …

Biden heads to his hometown of Scranton, Pennsylvania, to talk about taxes
8 months, 4 weeks ago

Biden heads to his hometown of Scranton, Pennsylvania, to talk about taxes

Associated Press  

WASHINGTON — President Joe Biden is headed to his hometown of Scranton, Pennsylvania on Tuesday to talk about who he believes should be paying more in taxes and who should be paying less. Biden’s campaign said in an announcement on Friday the upcoming speech on the day after Tax Day in the U.S. would “drive home a simple question: ‘Do …

Tax the rich and end Republican welfare for the wealthy
9 months, 3 weeks ago

Tax the rich and end Republican welfare for the wealthy

Raw Story  

Over the past 50 years, before the GOP went all in on fascism and isolationism, the most dramatic difference between Democrats and Republicans lurked in the driest of places: tax policies. As National Economic Council Director Lael Brainard told the Economic Club of New York last year, although tax cuts for the wealthy added trillions to the national debt, the …

Biden proposes tax increase on fuel for private jets, casting it as making wealthy pay their share
9 months, 4 weeks ago

Biden proposes tax increase on fuel for private jets, casting it as making wealthy pay their share

Associated Press  

President Joe Biden is proposing a huge increase in fuel taxes for private jets, which his administration is pitching as a fairness issue compared with airline passengers, who pay special taxes on every ticket. The largest business-aviation trade group came out against the targeted fuel-tax increase, saying private jets help companies succeed and create jobs. The White House earmarked nearly …

​Joe Biden to propose massive tax raid on super rich and corporate America in tonight's State of the Union address with sweeping hikes including minimum corporate tax up from 15% to 21% and a 25% rate
10 months ago

​Joe Biden to propose massive tax raid on super rich and corporate America in tonight's State of the Union address with sweeping hikes including minimum corporate tax up from 15% to 21% and a 25% rate

Daily Mail  

President Joe Biden plans to launch a raid on the super rich, hiking taxes for corporations and billionaires like Elon Musk and Jeff Bezos. He wants to raise the minimum corporate tax for big companies worth over $1 billion to 21 percent, up from the 15 percent he imposed earlier in his presidency. White House officials said Biden would preview …

Yellen visits Midwest to showcase improving consumer sentiment, take aim at Trump tax cuts
11 months, 2 weeks ago

Yellen visits Midwest to showcase improving consumer sentiment, take aim at Trump tax cuts

Hindustan Times  

WASHINGTON — Treasury Secretary Janet Yellen is visiting Illinois and electoral battleground Wisconsin this week to make a case for the Biden administration's economic agenda and offer a reminder about the Trump administration tax cuts, which she says added to the deficit and did little to promote investment. Yellen also said Trump’s Tax Cuts and Jobs Act “prioritized tax cuts …

Biden rolls out budget plan, challenges GOP to follow suit
1 year, 10 months ago

Biden rolls out budget plan, challenges GOP to follow suit

Associated Press  

PHILADELPHIA — As political gridlock puts the government at risk of defaulting, President Joe Biden on Thursday made an opening bid with a budget plan that would cut deficits by $2.9 trillion over the next decade — a proposal that Republicans already intend to reject. “What are they going to cut?” Biden’s package of tax and spending priorities is unlikely …

Biden budget aims to cut deficits nearly $3T over 10 years
1 year, 10 months ago

Biden budget aims to cut deficits nearly $3T over 10 years

Associated Press  

WASHINGTON — President Joe Biden’s upcoming budget proposal aims to cut deficits by nearly $3 trillion over the next decade, the White House said Wednesday. Rohit Kumar, a former McConnell aide who is now an executive with the tax consultancy PwC, said Biden’s plan does matter “in terms of putting ideas out there.” He said that if Biden won a …

Biden to propose 25 percent minimum tax on US billionaires
1 year, 10 months ago

Biden to propose 25 percent minimum tax on US billionaires

Al Jazeera  

US president’s reported budget plan would also nearly double capital gains tax on investments. United States President Joe Biden will call on Congress to impose a 25 percent minimum tax on billionaires as part of a series of proposed tax hikes on wealthy individuals and corporations, according to a US media report. Biden’s proposed spending plan would also nearly double …

A Bezos-Biden squabble: Can corporate taxes tame inflation?
2 years, 7 months ago

A Bezos-Biden squabble: Can corporate taxes tame inflation?

Associated Press  

WASHINGTON — Jeff Bezos this weekend became the latest centibillionaire to launch a political fight on Twitter by denouncing a tweet from President Joe Biden about corporate taxes as “disinformation” and “misdirection.” The White House quickly retorted Monday that Bezos “opposes an economic agenda for the middle class.” And then Bezos fired back, arguing that the Biden administration would have …

Biden’s budget plan: Higher taxes on rich, lower deficits
2 years, 9 months ago

Biden’s budget plan: Higher taxes on rich, lower deficits

Associated Press  

WASHINGTON — President Joe Biden announced a budget blueprint Monday that calls for higher taxes on the wealthy, lower federal deficits, more money for police and greater funding for education, public health and housing. Appearing at the White House with his budget director Shalanda Young, Biden said the proposal sends a clear message to the public about “what we value.” …

Column: A billionaires tax is a necessity. Even the White House knows it
2 years, 9 months ago

Column: A billionaires tax is a necessity. Even the White House knows it

LA Times  

After years of largely theoretical discussion among Democrats, the idea of a billionaires tax has now become official policy. — President Biden, introducing his billionaires tax Biden has now made it mainstream, though his plan is somewhat more modest than the others — his proposal for a wealth tax would raise about $360 billion over 10 years, according to the …

Half its original size, Biden’s big plan in race to finish
3 years, 2 months ago

Half its original size, Biden’s big plan in race to finish

Associated Press  

WASHINGTON — Half its original size, President Joe Biden’s big domestic policy plan is being pulled apart and reconfigured as Democrats edge closer to satisfying their most reluctant colleagues and finishing what’s now about a $1.75 trillion package. He vows any new taxes will hit only the wealthy, those earning more than $400,000 a year, or $450,000 for couples, and …

Billionaire tax hits critics as Biden pushes for budget deal
3 years, 2 months ago

Billionaire tax hits critics as Biden pushes for budget deal

Associated Press  

WASHINGTON — The Democrats’ idea for a new billionaires’ tax to help pay for President Joe Biden’s social services and climate change plan quickly ran into criticism as too cumbersome with some lawmakers preferring the original plan of simply raising the top tax rates on corporations and the wealthy. “That’s my hope,” the president said before leaving his home state …

White House, Dems hurriedly reworking $2 trillion Biden plan
3 years, 2 months ago

White House, Dems hurriedly reworking $2 trillion Biden plan

Associated Press  

WASHINGTON — The White House and Democrats are hurriedly reworking key aspects of President Joe Biden’s $2 trillion domestic policy plan, trimming the social services and climate change programs and rethinking new taxes on corporations and the wealthy to pay for a scaled-back package. Biden later said the discussions are “down to four or five issues.” On one issue — …

Sinema’s opposition to raising the corporate tax rate leaves White House scrambling to pay for Biden’s agenda
3 years, 2 months ago

Sinema’s opposition to raising the corporate tax rate leaves White House scrambling to pay for Biden’s agenda

CNN  

CNN — Top Biden administration officials are now weighing a range of different ideas to finance a sweeping economic and climate package as opposition from Democratic Sen. Kyrsten Sinema has thrown initial plans to raise the corporate tax rate into doubt, according to two people familiar with the matter. While top administration officials regularly check in with key committee chairs, …

The Democratic Push To Tax The Rich More Is 40 Years In The Making
3 years, 3 months ago

The Democratic Push To Tax The Rich More Is 40 Years In The Making

NPR  

The Democratic Push To Tax The Rich More Is 40 Years In The Making Enlarge this image toggle caption AP AP If Congress manages to pass President Biden's big budget package this fall with most of its spending and tax changes intact, it will represent the biggest shift in federal fiscal policy in 40 years. Enlarge this image toggle caption …

Democrats Hope To Undo Many Trump Tax Cuts To Fund Biden's $3.5 Trillion Budget Plan
3 years, 3 months ago

Democrats Hope To Undo Many Trump Tax Cuts To Fund Biden's $3.5 Trillion Budget Plan

NPR  

Democrats Hope To Undo Many Trump Tax Cuts To Fund Biden's $3.5 Trillion Budget Plan Enlarge this image toggle caption Drew Angerer/Getty Images Drew Angerer/Getty Images Democrats hope to unwind many of the tax cuts Republicans enacted under former President Donald Trump as a way to pay for the majority of the $3.5 trillion spending bill currently under consideration in …

Democrats look to hike taxes on the rich and corporations to pay for $3.5 trillion budget bill
3 years, 3 months ago

Democrats look to hike taxes on the rich and corporations to pay for $3.5 trillion budget bill

CNN  

CNN — House Democrats want to increase taxes on wealthy Americans and corporations to pay for their sweeping $3.5 trillion budget package. The draft proposal, which could still change before it is expected to be officially released Monday, calls for increasing the top marginal rate on individuals to 39.6%, up from the 37% rate set by the Republicans’ 2017 tax …

White House, Democrats tangle over Biden bid to raise taxes
3 years, 4 months ago

White House, Democrats tangle over Biden bid to raise taxes

Associated Press  

WASHINGTON — President Joe Biden has a simple message for fellow Democrats about his plan to raise taxes to remake large swaths of the American economy: look beyond the bottom line. “Establishing an artificial $3.5 trillion spending number and then reverse-engineering the partisan social priorities that should be funded isn’t how you make good policy,” Manchin wrote in The Wall …

US wins backing for global minimum corporate tax rate
3 years, 6 months ago

US wins backing for global minimum corporate tax rate

Al Jazeera  

Officials from 130 countries and jurisdictions, including India and China, have agreed on the United States’ broad outline to overhaul the global corporate tax system. Officials from 130 countries and jurisdictions have thrown their support behind the United States’ proposal to require a minimum global tax for corporations starting at 15 percent, a key step in curbing corporate tax avoidance …

Biden offers tax deal to Republicans in infrastructure talks
3 years, 7 months ago

Biden offers tax deal to Republicans in infrastructure talks

Associated Press  

President Joe Biden is trying to break a logjam with Republicans on how to pay for infrastructure improvements, proposing a 15% minimum tax on corporations and the possibility of revenues from increased IRS enforcement as a possible compromise. White House press secretary Jen Psaki said Biden examined possible tax code changes from his plans that Republicans might support. The idea …

Jamie Dimon calls Biden’s tax hike plan ‘a little crazy’
3 years, 8 months ago

Jamie Dimon calls Biden’s tax hike plan ‘a little crazy’

CNN  

New York CNN Business — Several top business leaders have backed President Joe Biden’s plan to raise taxes on large corporations and the wealthy and spend more on infrastructure. “I’m concerned about how the money’s going to be spent,” Dimon said in a recorded interview for the Investment Company Institute’s general membership meeting Thursday. “We already waste tremendous sums of …

Biden’s corporate tax plan takes aim at income inequality
3 years, 8 months ago

Biden’s corporate tax plan takes aim at income inequality

Associated Press  

WASHINGTON — From John Kennedy to Ronald Reagan to Donald Trump, American presidents have taken aim at corporate America’s tax-avoidance schemes before — and mostly missed. Many analysts see Biden’s corporate tax plan as a gamechanger — if Congress embraces it. Penn Wharton’s analysts estimate that a 21% minimum global tax and other international provisions of Biden’s tax plan would …

Biden's corporate tax plan takes aim at income inequality
3 years, 8 months ago

Biden's corporate tax plan takes aim at income inequality

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Penn Wharton's analysts estimate that a 21% minimum global tax and other international provisions …

President Biden seeks $80 billion to boost IRS tax audits
3 years, 8 months ago

President Biden seeks $80 billion to boost IRS tax audits

CNN  

CNN — President Joe Biden will seek $80 billion to fund enhanced Internal Revenue Service enforcement of high-earners to help pay for his American Families Plan, which he is set to unveil later this week, two sources briefed on the proposal told CNN. Biden is poised to unveil a roughly $1.5 trillion legislative proposal to invest hundreds of billions of …

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