Wake up people….
President Biden has been Senator Biden for a LONG time….
The idea that Biden offers ‘concessions’ to the Republicans to get a final bill is of course stupid….
This IS how legislation gets done in the nations’s Capitol…
President Biden was NEVER gonna be able to raise rich people’s tax rates to the sky….
He knew that…
So did Democrats in the real world….
Pressure from ‘progressives’ might allow Biden to get ‘something’….
But this IS America…
The middle class carries the tax revenue…
Not the Rich….
Not Big business….
(Watch what happens to the IRS budget….Adding Billions to it to go after the rich and corporation’s is never gonna make it thru Congress if McConnell help it)
Biden’s new offer amounted to a major concession after Republicans said his earlier proposal to lift the corporate tax rate from 21 percent to 28 percent — a move that would unwind the tax cuts the GOP adopted in 2017 — amounted to a nonstarter.
Biden still wants to raise the corporate tax rate to 28 percent, but that effort could now be pursued outside of the infrastructure negotiations.
Instead, Biden on Wednesday recommended a new, minimum corporate tax of 15 percent, seeking to take aim at dozens of profitable U.S. corporations that pay little to nothing to the federal government annually, according to a person familiar with the talks who requested anonymity to describe them. The White House also proposed stepping up enforcement on corporations and wealthy earners who rely on loopholes to lessen their tax burdens, the person said.
The offer marked an attempt by the White House to thread a delicate political needle. It aimed to preserve the president’s 2020 campaign pledge not to raise taxes on Americans making under $400,000 a year, while steering clear of the “red line” set down by Republicans who see the 2017 tax cuts as their crowning economic achievement….
He WILL get the bill because in the end?
Republicans NEED to be able to bring money for local projects home for next year….