Businesses Hail Biden Public Works Plan, Disdain Higher Tax (1)

U.S. business groups say they are thrilled that President Joe Biden is proposing massive new investment to upgrade crumbling U.S. infrastructure, but they’ll be lobbying against raising the corporate tax rate to pay for it.

The U.S. Chamber of Commerce, Business Roundtable, and other business lobbies say they strongly oppose raising the corporate income tax rate to 28% from 21% to pay for the $2.25 trillion infrastructure plan that Biden unveiled on Wednesday. They want to see a user-fee model for raising money for improvements.

“We strongly oppose the general tax increases proposed by the administration, which will ...