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Biden promotes corporate taxes in Illinois as business opposition mounts

Mount Equity Group Tokyo, Japan > News > Business > Biden promotes corporate taxes in Illinois as business opposition mounts

CRYSTAL LAKE, Ill., July 7 (Reuters) – President Joe Biden made the case for spending trillions of dollars on U.S. infrastructure, paid for by higher taxes on corporations, at an Illinois community college on Wednesday, as opposition builds from U.S. business groups.

In a speech Biden focused on what he called “human infrastructure” priorities that did not make it into a $1.2 trillion bipartisan deal struck with Republicans.

The policies include tax rebates for parents, free preschool and community college, healthcare and clean energy subsidies as well as 12 weeks of paid medical leave, financed by raising corporate taxes on U.S. companies.

Biden said a minimum tax of 15% on companies that manage to avoid paying taxes would raise $240 billion and could be used to finance his plans, which he acknowledged are “really expensive”

“The fact is that it is paid for,” he said. “Everybody has to pay their fair share. I’m not trying to gouge…

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