Biden Defends Proposed Tax Hikes on Corporations, High-Income Earners
President Joe Biden is defending his proposed tax increases, saying everyone needs to “pay their fair share.” “ I don’t want to punish anybody, but everybody should chip in. Everybody should pay something along the road…
President Joe Biden is defending his proposed tax increases, saying everyone needs to “pay their fair share.”
“I don’t want to punish anybody, but everybody should chip in. Everybody should pay something along the road here,” Biden said during a press conference promoting the American Families Plan on Monday.
The president explained he plans on giving tax breaks to the working class and “making everybody pay their fair share.”
He asked, “Do we want to give the wealthiest people in America another tax cut? Or do you want to give every high school graduate the ability to earn a community college degree?”
Watch Biden’s remarks below:
Biden added, “Is it more important to keep these tax loopholes for millionaires — for good people, not bad folks — or would we rather put $7,200 in the pockets of working moms and dads every year if they have two children?”
His spending initiatives including the American Rescue Plan, proposed American Jobs Plan and the American Families Plan come with a price tag of more than $6 trillion.
“What I’ve proposed is fair. It’s fiscally responsible. It raises the revenue to pay for the plans I’ve proposed that will create millions of jobs and grow the economy,” Biden said during his address to Congress last week.