White House willing to ‘compromise’ on proposed corporate tax hike

Secretary of Commerce Gina Raimondo said Wednesday President Biden is willing to negotiate on his push to raise the corporate tax rate to 28% to pay for the $2.25 trillion American Jobs plan.

“There is room for compromise,” Ms. Raimondo told reporters at the daily briefing. “That is clear.”

“Is the rate not quite 28%? Is it something lower?” she said. “So we want to compromise.”

She said Mr. Biden‘s primary focus is on making major investments in infrastructure and has tasked his administration with working across the aisle to reach a consensus on how best to pay for those investments.

“What we cannot do, and what I am imploring the business community not to do is to say, ‘We don’t like 28%, we are walking away, we are not discussing.’ That is unacceptable. Come to the table and problem solve with us to come up with a reasonable, responsible, plan.”


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