U.S. Democratic presidential candidate Joe Biden would use taxes on the wealthy ...
NEW YORK - U.S. Democratic presidential candidate Joe Biden would use taxes on the wealthy and corporations to pay for $3.2 trillion in promised investment in infrastructure, higher education and healthcare, according to an outline of his plans if he captures the White House.
Biden’s campaign team estimates his minimum tax of 15% on the income the most profitable companies report on their books would raise $400 billion, which would help pay for a $1.7 trillion investment to pay for proposed climate change and other infrastructure development. Policy proposals have differed widely among Democrats vying to win their party’s nomination to face U.S. President Donald Trump in the November 2020 election.
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