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President Joe Biden on Monday told America's wealthy and corporations that it is time to start paying their 'fair share' in taxes in speech pushing his ambitious infrastructure and social spending sprees

by Jamel Beamon (2021-05-17)


President Joe Biden on Monday told America's wealthy and corporations that it is time to start paying their 'fair share' in taxes in speech pushing his ambitious infrastructure and social spending sprees.

'Is it more important to shield millionaires from paying their fair share, or is it more important that every child gets a real opportunity to succeed from an early age and ease the burden on working families,' the president said during a visit to Tidewater Community College in Portsmouth, Virginia. 

Biden, along with Jill Biden, were in the southern part of Virginia, as the Biden administration starts a blitzkrieg to sell its $4.1 trillion in federal spending package amid negotiations with Republicans.

Monday's focus was on education. Their first stop was at Yorktown Elementary School where the first couple heard from fifth graders about what it was like having school at home.

The Bidens then visited the community college. As part of his American Families Plan, Biden wants to offer two years free community college tuition to all Americans.

Both his $2. In the event you loved this information and you want to receive much more information relating to hvac meaning in urdu (www.dealerbaba.com) please visit our site. 3 trillion American Jobs Plan and his $1.8 trillion American Families Plan feature heavy education components - everything from money to fix school buildings and replace old pipes to funds for free universal pre-K and more teachers. 

The president plans to pay for his jobs plan with a hike on corporate tax rates from 21 percent to 28 percent and impose a global minimum tax on corporations.

To pay for his families plan, he would hike the tax rate on capital gains to 39.6 percent and raise the rate for the top one 1 percent of income earners to 38.6 percent. 

Republicans countered that the rise in corporate taxes would send companies and jobs overseas.
They say the families plan - which includes a massive amount of social programs for education, paid family and medical leave and extended tax cuts for low-and- middle income workers - is a non-starter.

GOP House Minority Leader Mitch McConnell said on Monday that none of the Senators in his party would back Biden's plans, vowed to fight the reversal of Trump's 2017 tax hikes and the costs to be slimmed down to $600billion. 

Biden defended his approach, saying he's asking for people and companies to pay their share. 

'It doesn't add a single penny to our deficit, it's paid for by making sure corporate America and the wealthiest 1%,' he said of his proposals.

'Just pay their fair share. I come from the corporate capital of the world. More corporations are incorporated in the state of Delaware, and all the rest of the nation combined. And I'm not anti corporate, but it's about time they start paying their fair share.'

President Joe Biden argued he isn't raising taxes to pay for his ambitious $2.1 trillion plans on infrastructure and social programs but asking corporations and the wealthy to 'pay their fair share'

First lady Jill Biden applauds President Joe Biden after his remarks

President Joe Biden and first lady Jill Biden, tour an HVAC workshop at Tidewater Community College, in Portsmouth, Va.

First lady Jill Biden, a fulltime teacher, helped President Biden sell the education component of his jobs and families plans