Democratic Senator Joe Manchin said on Monday he rejects Joe Biden’s corporate tax increase to 28% and he may not be the only Democrat to break with the president on the enormous tax increase.
After years of uncompetitive corporate tax rates President Trump was able to reduce the US corporate tax rate to 21%. Democrats want to raise it back up and punish American companies.
Manchin says Democrats do not have the votes to pass Biden’s tax increases.
Sen. Joe Manchin, an influential centrist Democrat, warned Monday that the Biden administration’s massive infrastructure package can’t pass in its current form because he and a handful of other Senate Democrats believe the corporate tax hikes proposed in the bill — designed to offset its costs — are too steep.
“As the bill exists today, it needs to be changed,” he told West Virginia Metro News host Hoppy Kercheval in a radio interview