Manchin opposes Biden tax increase
President Biden’s proposal to raise the corporate tax rate from 21% to 28% to fund his massive infrastructure plan already has at least one Senate democrat in opposition: Joe Manchin, D-W.Va.
During a segment Monday on statewide Talkline, Manchin said raising the corporate tax rate above 25% would be a non-starter for his support.
“We can’t continue to throw caution to the wind, and both sides — Democrats and Republicans both — have been irresponsible with their financial responsibilities that we have for our country and our future generations,” he said.
In an evenly split Senate, Manchin’s opposition should serve as a warning to Biden that a tax-and-spend administration won’t be tolerated. He should continue to oppose the bill until a more realistic plan focused on real improvements to the nation’s infrastructure is presented.