Joe Biden by Gage Skidmore is licensed under flickr Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)
Biden for weeks has said that his proposed hike on the highest income tax bracket would not hit any person who earns less than $400,000.
But his updated phrasing confirms press secretaryJen Psaki’s recent acknowledgment that a two-partner family would be impacted if combined income crosses $400,000.
Biden told reporters at the White House that his infrastructure plan would be paid for by those who can afford higher taxes.
“It is a once-in-a-generation investment in our economic future, a chance to win the future — paid for by asking big corporations, many of which do not pay any taxes at all, just to begin to pay their fair share. And it won’t raise a penny of tax on a family making less than $400,000 a year, no federal tax, no addition,” he said.
The president’s description of the tax hike as applying to any “family” that makes more than $400,000 per year is a significant change from his earlier remarks, and could mean families on the cusp of affluence in areas with high costs of living are impacted.
By contrast, Biden said Wednesday in a speech in Pittsburgh unveiling the tax increase and infrastructure plan, “No one making under $400,000 will see their federal taxes go up. Period.”
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