President Biden said Wednesday hes willing to scale back a proposed corporate tax increase in his massive infrastructure plan amid resistance from a key Senate Democrat and a new study that said the plan would sap wages and economic growth in the long run.
Mr. Biden challenged opponents of the $2.25 trillion plan to put up or shut up on outlining their own ideas, while the Treasury Department projected the broader plan translates to roughly $2.5 trillion in tax hikes over 15 years.
Im wide open, but we got to pay for this, Mr. Biden told reporters when asked about a corporate tax rate lower than the 28% that is in his plan. Ive come forward with the best, most rational way in my view, the fairest way to pay for it. But there are many other ways as well, and Im open.