WASHINGTON—President Biden outlined $1.85 trillion in proposed tax increases and other revenue generators on Thursday to pay for his social and climate agenda, offering a hodgepodge of strategies designed to navigate red lines set by the administration and congressional Democrats.

The plan relies on a 15% corporate minimum tax, surtaxes on the very highest earners, tougher tax enforcement and higher taxes on U.S. companies’ foreign earnings.

This post first appeared on wsj.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Second E. Jean Carroll defamation trial against Trump set for January 2024

A federal judge on Thursday set E. Jean Carroll’s second defamation trial…

Prolific fashion designer Virgil Abloh dies, age 41

Virgil Abloh, the prolific fashion designer known for styling stars like Kanye…

Firefighter’s body recovered nearly 24 hours after deadly fire at N.Y. assisted-living facility

Rescuers recovered the body of a firefighter nearly 24 hours after a…

He still controls the GOP but state parties are trying to prevent future Trumps

WASHINGTON — Yes, this week confirmed that Donald Trump remains the de-facto…