Democrats May Reverse Some Trump Tax Cuts For Corporations & Wealthy

House Democrats are looking at reversing some of the Trump tax cuts for corporations and the wealthiest in order to pay for the proposed $3.5 trillion “human infrastructure” bill known as the “Build Back Better” Agenda.

From NPR:

House Ways and Means Committee Chairman Richard Neal, D-Mass., released details Monday of a plan that includes increasing the top corporate tax rate to 26.5%, up from the current rate of 21%, and restoring the top rate to 39.6% for individuals earning more than $400,000 and married couples earning over $450,000.

The changes are part of the tricky balancing act plaguing Democrats’ efforts to approve the bulk of President Biden’s domestic agenda.

Leaders are attempting to prove to skeptics within their own party it is possible to finance a vast expansion of federal spending on everything from housing and health care to financial support for families and climate change — all without increasing taxes on everyday Americans.

At this point, there’s no broad agreement on how large (or small) the Dems want the bill to be.

The major points of the bill include universal pre-K, lowering health care costs, tax cuts for middle class, and free community college.