President Biden's Economic Policy

SOURCE www.axios.com
President Biden to outline populist economic policy in second term at State of the Union address, focusing on tax increases for wealthy households and corporations.

Key Points

  • Biden plans to raise the corporate income tax rate from 21% to 28%
  • Proposal to require households worth $100 million or more to pay at least 25% of their earnings in taxes

Pros

  • Focus on tax increases for wealthy households and corporations
  • Addressing income inequality through tax reforms

Cons

  • Potential opposition from wealthier individuals and corporations
  • Impact on economic growth and investment