If President Joe Biden’s corporate tax increases and other changes to the tax code are passed unchanged, about 1 million jobs will be lost in the first two years following passage and economic activity will also decrease, according to a new economic study (pdf).
The study by the National Association of Manufacturers (NAM), conducted by Rice University economists, found Biden’s infrastructure plans would cause a barrage of negative consequences. Biden has called for a corporate tax increase to 28 percent from the current 21 percent.
