Biden's Corporate Tax Plan Decries 'Broken Bargain' With Middle Class

Biden's tax plan proposes nearly $1 trillion in new taxes on corporations and over three trillion overall. It aims to address the broken bargain with middle-class Americans by increasing corporate tax rates from 21% to 28% and raising the top individual tax rate to nearly 40%. The plan also targets foreign income and corporate loopholes to fund healthcare, infrastructure, education, and climate change initiatives. Compared to his Democratic rivals, Biden's tax increases are moderate, with Pete Buttigieg proposing a 35% corporate tax rate and Sanders and Warren advocating for more extensive taxes.

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