U.S. President Joe Biden said a corporate tax rate between 25% and 28% could help pay for some badly needed investment projects, suggesting he could accept a lower rate than what he has proposed.
"The way I can pay for this, is making sure that the largest companies don't pay zero, and reducing the (2017 corporate) tax cut to between 25 and 28," Biden said during a visit to Lake Charles, Louisiana.
In his $2.3 trillion infrastructure plan, Biden proposed raising the corporate tax rate to 28% from 21%.
"What I'm proposing is badly needed" and will be paid for, Biden said. "Trickle down ain't working very well. We've got to build from the bottom up and the middle out."
Our Standards: The Thomson Reuters Trust Principles.