President Joe Biden will unveil Wednesday his long awaited Build Back Better initiative, an infrastructure and social welfare plan with an expected price tag of more than $4 trillion that will be mostly funded by corporate tax hikes. Biden expects the nation's corporations to pay for $2 trillion in reengineering infrastructure in the midst of an economically and financially devastating pandemic.
The plan will include a 7% corporate tax hike – the largest increase since the 1990s – from the current rate of 21%.
Poster Comment:
Corporate taxes are passed on to consumers.