Sen. Susan Collins (R-Maine) on Sunday pushed back on the White House’s proposal to raise the corporate tax rate to 28 percent to pay for President Joe Biden’s $2.25 trillion infrastructure plan.
Collins was commenting on a key feature of Biden’s mammoth plan, which would raise the corporate tax rate to 28 percent from the current 21 percent. Raising the corporate tax rate would partially repeal the 2017 Tax Cuts and Jobs Act, which was seen as a major achievement of the Trump administration and a legacy Republicans would likely support preserving.
