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President’s proposed hike would raise corporate tax rate from 21% to 28% to pay for his $2.3tn infrastructure plan
The bosses of America’s largest companies overwhelmingly believe Joe Biden’s proposed increase in the country’s corporate tax rate would have a negative impact on their businesses, according to a survey released on Monday.
The influential business lobbying group Business Roundtable, whose members include Amazon’s Jeff Bezos and Apple’s Tim Cook, released a survey of 178 CEOs on their thoughts on an increase in corporate tax. The survey specifically questioned the CEOs on the president’s proposed corporate tax hike, which would raise the corporate tax rate from 21% to 28%, to pay for his $2.3tn infrastructure plan. Continue reading...