Report: Joe Biden Plans First Major Tax Hike in a Generation

  • by:
  • Source: Breitbart
  • 04/09/2021
President Joe Biden is considering a tax hike to underwrite the economic program launched by the approval of his $1.9 trillion pandemic stimulus package, a Monday report by Bloomberg claims. The tax jump will be the first major move in federal taxes in almost 30 years if successful.

Bloomberg quotes unidentified sources to outline the increases will back Biden’s promises made during his 2020 campaign.

An independent analysis of the Biden campaign’s tax plan conducted by the Tax Policy Center found it would raise around $2.1 trillion over 10 years, according to the report.

Tax hikes included as part of infrastructure and job packages will likely include repealing part of former President Trump‘s 2017 tax law that benefitted corporations and wealthy individuals, the news outlet notes, citing sources close to the matter.

As Breitbart News reported, Biden twice flagged his desire to raise taxes on everyone, including the middle class, during last year’s presidential debates.

“That’s why I’m going to eliminate the Trump tax cuts,” Biden said during his first of three debates with President Trump. And then, to accentuate the point, he said it again, “I’m going to eliminate those tax cuts.”


 
by is licensed under

Help FAIRtax Become The Number One Issue in 2024

Enacting the FAIRtax must be a prominent topic in these times. We did it before, we can do it again, but we need your help!

Help out with a One-Time Contribution

Your gift of $25, $50, $100 – even $1,000 or more if you can possibly spare it – will help FAIRtax.org bring an end to the IRS and promote a FAIRtax. So, I urge you, please give as generously as you can.

Billing information (REQUIRED)

Payment information (REQUIRED)

To donate by check:
Americans for Fair Taxation
PO Box 4929
Clearwater, FL 33758

If you need to make changes to your existing Monthly Re-Occurring Donation with new card or billing address information, then Please call Adam Yomtov our New York State Co-Director. He is assisting with the administration of our donations, technology services, and website.

Please note: Inputting your new information at our website won't update your donation. The only way to update is by calling Adam Yomtov 917-689-3931 mobile.


Americans for Fair Taxation® is a 501(c)(4) non-profit, non-partisan grassroots organization solely dedicated to replacing the current income tax system with a fair, simple and transparent national consumption tax – the FAIRtax® Plan. We rely entirely on contributions from concerned citizens like you who want a tax system that will generate jobs and stimulate the economy. Welcome to the FAIRtax team!

Connect

Share