Biden admits tax hike could hit people earning $200K

Biden admits tax hike could hit people earning $200K

WASHINGTON — President Biden on Friday admitted that his $2 trillion infrastructure plan would bring tax increases to some people who earn $200,000 — while insisting that a separate hike on businesses “will not slow the economy at all.”

Biden for weeks has said that his proposed hike on the highest income tax bracket would not hit any person who earns less than $400,000.

But his updated phrasing confirms press secretary Jen Psaki’s recent acknowledgment that a two-partner family would be impacted if combined income crosses $400,000.

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Biden told reporters at the White House that his infrastructure plan would be paid for by those who can afford higher taxes.

“It is a once-in-a-generation investment in our economic future, a chance to win the future — paid for by asking big corporations, many of which do not pay any taxes at all, just to begin to pay their fair share. And it won’t raise a penny of tax on

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