Sanders Proposes Bigger Tax Hikes Than WH Is Planning

By Staff Reporter
Posted on 03/25/21 | News Source: Newsmax

Senate Budget Committee Chairman Bernie Sanders is proposing tax increases that are even bigger than the ones President Joe Biden is considering.

Sanders, in an interview with NPR, said that he is planning to introduce legislation Thursday that would raise the corporate tax rate to 35%, higher than the 28% that Biden has proposed. The corporate rate is currently 21%, which was cut from 35% in President Donald Trump’s 2017 tax overhaul.

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The push for even steeper tax increases demonstrates that Democrats are divided on the scope of the levy hikes they should pursue as they look for ways to finance infrastructure, climate change programs, and other priorities. Democrats largely agree that businesses and wealthy households should pay higher taxes, but they have yet to debate the specifics of those increases.

Yet Sanders’ proposal is certain to face fierce opposition from Republicans, who make up half of the Senate, and misgivings from some moderate Democrats.

Read more at NEWSMAX.