Former Vice President and current presidential candidate Joe Biden promised Saturday that on “Day One” of a Biden presidency he would repeal President Trump’s 2017 tax cuts and close $500 billion on tax loopholes.
Speaking at the South Carolina Democratic Party Convention, Biden said that “Income inequities are at an all-time high and made worse by Trump’s tax cuts and enormous giveaways to the top one-tenth of the 1 percent … and it’s time we start to reward work over wealth.”
Outlining his policy proposals in this visit to the early primary state, Biden said the GOP-backed tax cuts, which have been heavily criticized in some quarters as beneficial only to the rich, have no socially redeeming value. He vowed to “put that money to good use.”
Biden promised that, among other things, residual funds from the tax break would be put toward initiatives such as green energy research and development, two-year college tuition grants and a public-option health insurance plan. – read more