No new taxes on gasoline: The White House rejects the company's request for infrastructure funding
- Capitol Times
- Apr 2, 2021
- 1 min read
The White House on Thursday rejected the idea of raising taxes on gasoline as a way to pay for President Joe Biden's $ 2.3 trillion infrastructure plan, setting the stage for a battle with business groups calling for drivers. Americans pay the bill instead of companies raising taxes.
The Biden plan calls for raising the corporate tax rate to 28% from 21% and proposes other tax increases and policy adjustments to ensure that companies do not avoid domestic tax bills by shifting profits abroad.
The tax proposal, announced on Wednesday, has been rejected by Republicans in Congress, trade groups such as the National Association of Manufacturers, and trade lobbyists such as the US Chamber of Commerce and the Business Roundtable.
CTM NEWS
2 April 2021
