Biden Adviser Sperling: Reconciliation Bill Doesn't Raise Tax Rates, It Just Requires Paying 'Minimal Fair Share' to Generate Revenue

Biden Adviser Sperling: Reconciliation Bill Doesn't Raise Tax Rates, It Just Requires Paying 'Minimal Fair Share' to Generate Revenue


On Thursday’s broadcast of CNN’s “The Lead,” Senior Adviser to President Joe Biden Gene Sperling claimed that the reconciliation deal announced by Senate Democrats “doesn’t really raise” tax rates, because it just says that large companies have to “pay some minimal fair share,” the funds from which will be used “to provide these benefits, these incentives for job growth here and production in the United States” and to reduce the deficit.

Sperling stated, “So, by simply making the most well-off corporations pay some minimal fair share, we’re able to use [those] funds to provide these benefits, these incentives for job growth here and production in the United States. At the same time, we’re paying for them and actually bringing down the deficit.”

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