President Joe Biden said Monday he was “not at all” worried about higher tax rates on corporations pushing American companies out of the United States.
Reporters questioned Biden about his proposed corporate tax increase from 21 percent to 28 percent to pay for his massive $2.5 trillion infrastructure proposal as he returned to the White House on Monday.
One reporter asked Biden if he was worried about companies potentially leaving the United States if he successfully raised corporate tax rates.
“Not at all. Not at all,” Biden replied. “Because there’s no evidence of that.”
Biden complained many of America’s top companies paid nothing in federal taxes.
“You’re talking about companies in the Fortune 500 that haven’t paid a single penny in tax for 3 years,” he said. “Come on man.”
Under former President Donald Trump, the Republicans brought the corporate tax rate down from the fourth-highest income