Almost Two Thirds of Voters Back Joe Biden’s Corporate Tax Rise Plans: Poll

SourceNewsweek
SectorEconomy
CountryEgypt

President Joe Biden's proposed corporate tax raise to fund his ambitious $2 trillion infrastructure plan has the support of almost two thirds of voters, a new poll has revealed.The White House unveiled the $2 trillion American Jobs Plan last week, to rebuild the country's crumbling infrastructure, restore manufacturing and create good paying jobs in order for the U.S. to continue to be a leader in innovation and stand up to China's growing global influence.But Biden's tax plans have drawn criticism from the Republican party, as well as some moderate Congressional Democrats. Many opposing lawmakers took particular issue with the president's suggestion that the top corporate tax rate should be raised from 21 percent to 28 percent in order to cover the cost of the package. Some politicians are concerned that the 7 percent tax raise could make the U.S.

less competitive for businesses.A Morning Consult/Politico poll released on Wednesday found that voters were mainly in favor of the proposals. It found that 65 percent of registered voters support increasing corporate taxes over the next 15 years to fund the president's plan, while 21 percent said they somewhat or strongly oppose it. The poll, conducted between 2-4 April among 1,989 registered voters, ...read more...