Democrats’ Budget Reconciliation Bill would Raise Taxes by $3.2 Trillion

Democrats' budget reconciliation bill would raise taxes to $3.2 trillionThe upcoming democratic reconciliation bill would give the U.S. the “highest corporate tax rate in the world” and raise taxes by a whopping $3.2 trillion, according to Senate Minority Leader Mitch McConnell. He said that the 2017 GOP tax reform law lowered the corporate tax rate to 21 percent to make the nation “more competitive […]

  • by:
  • 03/02/2023

Democrats' budget reconciliation bill would raise taxes to $3.2 trillionThe upcoming democratic reconciliation bill would give the U.S. the “highest corporate tax rate in the world” and raise taxes by a whopping $3.2 trillion, according to Senate Minority Leader Mitch McConnell. He said that the 2017 GOP tax reform law lowered the corporate tax rate to 21 percent to make the nation “more competitive […]

ad-image

The upcoming democratic reconciliation bill would give the U.S. the “highest corporate tax rate in the world” and raise taxes by a whopping $3.2 trillion, according to Senate Minority Leader Mitch McConnell.

He said that the 2017 GOP tax reform law lowered the corporate tax rate to 21 percent to make the nation “more competitive internationally.” Meanwhile, Biden proposed raising it to 25 or 28 percent, per Just the News. 

Democratic leaders are also considering lowering the exemption for the estate tax, which is currently set at $11 million. 

“This is going to be a hell of a fight,” McConnell said on Thursday in a speech to the Northern Kentucky Chamber of Commerce. “This is a fight worth having. I don’t think they have a mandate to do it.” 

During McConnell’s speech, he discussed his potential role as majority leader after the 2022 election. 

“If I become the majority leader again, it’s not for stopping everything, it’s for stopping the worst,” he said. 

Image: by is licensed under
ADVERTISEMENT

Opinion

View All

MORGONN McMICHAEL: UK science museum exhibition will help visitors "see things queerly"

“Seeing Things Queerly” provides a short history of LGBTQ-identifying individuals who invented device...

FRONTLINES: Tren de Aragua gang members arrive at Guantanamo Bay

Secretary of Defense Pete Hegseth shared a video on X showing US military personnel and ICE agents es...

Australian teacher 'Miss Purr' identifies as cat in classroom, hisses at students: report

“She … forces the children to call her Miss Purr and cat screeches and growls when they don’t listen....

Thai women kept as slaves, human eggs forcibly harvested and sold, in Georgia

One of the freed women described the conditions as treating them “like cattle,” with some women recei...