Manchin says he won't support corporate tax hike to 28 percent

Source: The Hill | April 5, 2021 | Alexander Bolton

Centrist Sen. Joe Manchin (D-W.Va.), who has emerged as a powerbroker in the 50-50 Senate, said President Biden’s $2.25 trillion infrastructure proposal needs changes and that raising the corporate tax rate to 28 percent goes too far.

Manchin said Monday he would instead support raising the corporate tax rate to 25 percent, a level he identified last month as something he could back.

“As the bill exists today, it needs to be changed,” Manchin told Hoppy Kercheval, the host of West Virginia Metro News’s “Talkline” show.

“If I don’t vote to get on it, it’s not going anywhere,” he added.  

Manchin said other Senate Democrats are also concerned about Biden’s proposal to raise the corporate tax rate from 21 percent to 28 percent.

“It’s more than just me, Hoppy,” Manchin added. “There’s six or seven other Democrats who feel very strongly about this. We have to be competitive, and we’re not going to throw caution to the wind.”

……..

You must be logged in to reply to this topic.