This is the best version of Biden.

NeverTrumpers must be so proud to support this fiercely principled economic conservative.

President Biden's proposed increase in the corporate tax rate to 28% is projected to result in significant job losses, starkly contrasting with the job growth seen under President Trump's Tax Cuts and Jobs Act.

Key Details:

The proposed hike to a 28% corporate tax rate could lead to an immediate loss of about 1 million American jobs in the first two years, with ongoing losses of 600,000 jobs annually over the next decade.

Under President Trump, the Tax Cuts and Jobs Act of 2017 reduced the corporate tax rate from 35% to 21%, aligning the U.S. more closely with other OECD countries and boosting competitiveness.

The planned increase to 28% would elevate the U.S. combined state and federal corporate tax rate to 32.8%, one of the highest globally and triple that of China.

Diving Deeper:

The Biden administration's proposal to increase the corporate tax rate from 21% to 28% marks a sharp departure from the pro-growth policies of the Trump era, which prioritized job creation and economic expansion. This shift not only threatens to reverse the gains made but also positions the United States unfavorably in the global economic arena.

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In stark contrast, Biden's proposed tax hike, by elevating the corporate tax rate to 28%, threatens to impede economic progress. Analysis suggests that such an increase would result in a loss of approximately 1 million jobs in the first two years, with a continual decline of 600,000 jobs each year over the subsequent decade.