Biden wants to raise the corporate tax rate back to Obama era
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Joe Biden said that, if elected president, he would raise the corporate tax rate from 21 percent to 28 percent — the same rate backed by the Obama administration.
“That would raise billions of dollars,” the Democratic front-runner said in a CNN interview that aired Friday.
The 2017 Republican tax overhaul lowered the corporate rate from 35 percent to 21 percent.
When CNN host Chris Cuomo pointed out that President Trump would say the tax cuts boosted the economy, Biden asked how good Americans feel “with trillions of dollars in debt.”
Biden also said he’d raise the income tax rate for high earners to 39.5 percent.
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