President Joe Biden proposed a major concession on paying for an infrastructure bill according to a new report on details of private negotiations between the White House and Senate Republicans.
The Washington Post reports that Biden would not raise the corporate tax rate from 21 percent to 28 percent and instead propose a minimum corporate tax of 15 percent — for companies like Amazon that pay little to nothing in federal taxes.
Republicans have refused to budge on any of Biden’s widespread tax hikes on corporations to pay for his infrastructure bill, but a bill more narrowly focused on global corporations who enjoy widespread tax advantages may appeal to some of the more populist Republicans in the Senate.
Corporations are likely to oppose the idea, and will lean heavily on their political influence operations in Congress to kill the proposal.
The White House said Biden and Senate