Biden Floats 15% Minimum Corporate Tax in Talks With GOP (2)

June 4, 2021, 1:58 AM

President Joe Biden has pitched to Republicans the idea of a 15% minimum tax on U.S. corporations, along with strengthened IRS enforcement efforts, as a way to fund a bipartisan infrastructure package.

The proposal sets aside the Biden administration’s proposal to raise the headline corporate income rate to 28% from 21% -- a non-starter for Republican lawmakers -- though that could be pursued elsewhere. White House Press Secretary Jen Psaki confirmed the offer during a briefing Thursday.

Rep. James Clyburn says time is running out to reach an infrastructure deal.
Source: Bloomberg)

Under the pitch to Republicans, companies that have lots of tax credits and deductions would be required to pay at least 15%. ...

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