Biden’s tax hike will make US less competitive – McCarthy
United States House Minority Leader Kevin McCarthy claimed on Tuesday President Joe Biden’s proposed corporate tax increase from 21% to 28% would make the country “less competitive.”
“That results in higher prices for you and for small businesses struggling to stay afloat,” he tweeted while noting that nine countries “have lowered corporate tax rates to compete with the US.”
McCarthy recently described Biden’s proposed infrastructure bill, which would bring the aforementioned tax rise to force, as the “most expensive single bill” in the country’s history. Meanwhile, the White House said Biden’s administration was ready to discuss different solutions for funding the bill.
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