President Joe Biden this week unveiled his plan to pay for sweeping infrastructure investments by raising taxes on corporations.
The proposals include raising the corporate tax rate to 28%, imposing a 21% global minimum tax on U.S. companies, and giving the IRS more resources to crack down on tax evasion.
In this week’s episode of Talking Tax, reporters Allyson Versprille and Colin Wilhelm speak to Austan Goolsbee, former chairman of the Council of Economic Advisers under President Barack Obama, and DJ Gribbin, former special assistant to President Donald Trump for infrastructure.
Goolsbee and Gribbin discuss the impact of Biden’s proposed tax hikes on U.S. competitiveness and challenges the administration will face getting the plan through Congress.