House Democrats Set to Propose Corporate Tax Rate of 26.5%

The transcript discusses the House Democrats' efforts to implement President Biden's social spending package. It highlights the proposed corporate tax rate of 26.5%, which is lower than Biden's initial 28% proposal. This adjustment aims to gain support from House moderates, as Democrats can only afford to lose three votes. The strategy involves softening tax increases to improve the chances of passing the package.

Why might House moderates be resistant to higher tax rates proposed by Biden?

What is the significance of the House Democrats needing to soften the proposed tax increases?