Damn if this isn’t straight out the Progressive Playbook….
President Biden is marrying this to a Infrastructure and Job’s Bill he wants to do next…
Gonna be interesting….
Trump and the Republicans gave the same people and corporation’s a tax give away 3 years ago….
Sounds like Biden and the Democrats are seeking to get that back…
We’ll have to see what Manchin and some of the ‘centrist’ Democrats say….
I would doubt any Republicans will sign on for tax hikes in any form….
President Biden said in an interview with ABC News’s George Stephanopoulos that he wants households making more than $400,000 to see “a small to a significant tax increase,” and that he thinks he can get votes from congressional Democrats for the tax hikes.
“Anybody making more than $400,000 will see a small to a significant tax increase,” Biden said in an interview that aired on “Good Morning America” Wednesday. “If you make less than $400,000, you won’t see one single penny in additional federal tax.”
Biden and congressional Democrats have expressed interest in pursuing a jobs and infrastructure package, and tax increases on the wealthy and corporations could be used to help offset the cost of such a bill. The details of a potential infrastructure bill have not yet been crafted….
Republicans are criticizing the prospect of raising taxes to pay for an infrastructure bill, arguing that the tax increases would hurt the economy.
Some Democrats have said they want to pursue infrastructure legislation on a bipartisan basis, and tax increases would likely jeopardize the ability for any bill to get GOP support. Some Democrats have also expressed a reluctance to increase taxes during an economic downturn….