President Joe Biden suggested a 15% minimum tax on corporations coupled with increased IRS enforcement during negotiations as an alternative to raising the corporate tax rate in talks with Republicans regarding an infrastructure package.
Biden raised the prospect during his Wednesday meeting with Republican Sen. Shelley Moore Capito of West Virginia. He offered a number of ways that a robust infrastructure package could be funded that would still leave the 2017 tax cuts intact, a person familiar with the situation told the Washington Examiner.
Republicans have repeatedly said that Biden’s plan to raise the headline corporate tax rate from 21% to 28%, partially reversing the rate cut included in the 2017 Trump tax overhaul, in order to pay for an infrastructure package would not garner the support of GOP lawmakers.
While the Wednesday proposal for a 15% minimum tax on corporations coupled with increased IRS enforcement set aside the corporate rate hike as part