President Joe Biden has proposed a minimum corporate tax rate of 15 percent, and increased Internal Revenue Service (IRS) funding, as a way to pay for an infrastructure package that he is negotiating with Republicans, according to the White House.
“The book minimum (15 percent) was in the president’s American Jobs plan proposal as a proposed ‘pay for,’” White House press secretary Jen Psaki told a reporter. “It was also in our budget. So, this is not a new idea. This is a component of what he’s proposed as a ‘pay for’ that he’s lifting up as a question as to whether they (Republicans) could agree to that because it certainly doesn’t violate anything about the 2017 taxes.”
