Secretary of Energy Jennifer Granholm didn’t deny claims over the weekend that tax hikes associated with the Biden administration’s more than $2 trillion infrastructure plan could have a ruinous economic effect on middle-class Americans.
During an interview on Sunday, CNN host Jake Tapper confronted the energy secretary on the issue, citing concerns among Republicans and moderate congressional Democrats about the economic impact of raising taxes.
In the lead-up to his question, Tapper specifically referred to a recent Wall Street Journal editorial that asserted the taxes would “hit the middle class hard — in the value of their 401(k)s, the size of their pay packets, and what they pay for goods and services.” He added that the U.S. Chamber of Commerce called the tax increases “dangerously misguided.”
To pay for the massive spending package — which goes far beyond funding highways, bridges, and roads to finance a laundry list of progressive political priorities — the administration has proposed the largest tax hike in almost three decades. One of the major changes getting media attention is a proposed increase of the corporate tax rate from 21% to 28%.- READ MORE
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