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White House tells Democrats corporate tax hike unlikely -congressional source -Breaking

by Mike Robinson

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© Reuters. The sun sets behind the U.S. Capitol building in Washington, U.S., October 6, 2021. REUTERS/Leah Millis/Files

(Reuters) – The White House told Democratic lawmakers in a meeting on Wednesday that a proposed hike in corporate taxes is unlikely to make it into a final reconciliation bill, according to a congressional source familiar with the discussions.

President Joe Biden had proposed increasing the corporate tax rate from 21% to 28%, which would unwind the tax cuts enacted under Republican former President Donald Trump.

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