Story at a glance

  • President Biden last week unveiled the details of his ambitious more than $2 trillion plan to rebuild the nation’s crumbling infrastructure.
  • It includes an increase in the corporate tax to 28 percent from 21 percent to help fund the proposal.
  • On Monday, Manchin criticized the tax hike and said he would not support the package in its current form.

Conservative Democrat Sen. Joe Manchin (W.Va.) on Monday said he was opposed to the Biden administration’s plan to raise the corporate tax to 28 percent to pay for a sweeping infrastructure package. 

President Biden last week unveiled the details of his ambitious more than $2 trillion plan to rebuild the nation’s crumbling infrastructure, create jobs and address climate change.


America is changing faster than ever! Add Changing America to your Facebook or Twitter feed to stay on top of the news.


It includes an increase in the corporate tax to 28 percent from 21 percent to help fund the proposal. Former President Trump lowered the corporate tax rate to 21 percent from 35 percent in 2017. 

On Monday, Manchin criticized the tax hike and said he would not support the package in its current form. 

“As the bill exists today, it needs to be changed,” Manchin said during an interview with WV MetroNews Talkline podcast Monday. 

“I think [the corporate rate] should have never been under 25 percent, that’s the worldwide average. And that’s what basically every corporation would have told you was fair,” Manchin said. 

Manchin said there were 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,” he said. 

The West Virginia Democrat is a pivotal vote in the 50-50 divided Senate and Senate Minority Leader Mitch McConnell (R-Ky.) last week said he would fight against Biden’s plan, suggesting there will be no Republican support for the infrastructure proposal. 


READ MORE STORIES FROM CHANGING AMERICA

FOURTH WAVE OF COVID-19 IN MIDWEST HAS HIT ‘CATEGORY FIVE HURRICANE STATUS,’ SAYS ONE EXPERT

CORONAVIRUS IS EXPLODING IN MICHIGAN

HAWAII CONSIDERS VACCINE PASSPORTS FOR INTER-ISLAND TRAVEL

WHAT HAPPENS AFTER ONE DOSE OF PFIZER OR MODERNA VACCINE?

FAUCI SAYS NEW SURGE IN COVID-19 CASES HAS THREE MAIN CAUSES


 

Published on Apr 05, 2021