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Joe Biden suggests he wants return to Bush-era tax rate

Source: https://nypost.com/2020/12/02/joe-biden-suggests-returning-to-bush-era-tax-rate/ - Dec 3, 2020

President-elect Joe Biden said in a new interview that he wants to hike tax rates back to their highest levels under the George W. Bush administration — undercutting his promise not to increase taxes for Americans earning less than $400,000 a year.

Biden outlined his economic platform in an interview with New York Times’ columnist Thomas Friedman, and said he would ensure long-term growth by ensuring “everybody pays their fair share, for God’s sake.”

“And by that fair share, I mean there’s no reason why the top tax rate shouldn’t be 39.6 percent, which it was in the beginning of the Bush administration,” he said.

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Category: General Business