President Joe Biden wants to increase the corporate income tax rate from 21% to 28% and increase the tax rates for the wealthiest Americans.
"It's time for working families, the folks who built this country, to have their taxes cut," Biden said in remarks following the August jobs report.
Warren wants a 7% tax on the wealthiest corporations to be in the reconciliation bill. "I see this as simple tax fairness," Sen. Angus King said.
At a CNN town hall, President Joe Biden said tax breaks and benefits for the wealthy don't "trickle down" to the rest of society.
The Biden administration should stop building barriers to homeownership and instead support policies that will help first-time homebuyers.
Since becoming Treasury Secretary, Janet Yellen has tried to reform the world's tax regime. She just got 130 countries to agree, including the G20.
Earlier today, President Joe Biden said "we have a deal" on infrastructure. It doesn't include hiking corporate taxes, but the IRS could get bigger.
The Group of 7 summit yielded a historic tax agreement that, if enacted, could yield billions for governments around the world.
The annual G7 summit is focusing on economic measures that could address inequities worldwide. They want to change things, but can they, really?
Multinational companies have been taking advantage of existing tax rules by shuffling money between jurisdictions with super-low rates.
The G7 seeks to make tech giants pay more tax in the countries where they sell the most - but Amazon's slender profit margin could see it escape this.
The deal will make multinationals pay taxes where they operate and includes a pledge to introduce a global minimum corporate tax rate of 15 percent.
Biden also offered to cut the amount of new spending he's seeking to $1 trillion. Republicans have barely budged in the negotiations.
A global minimum corporate tax rate would stop companies from moving to a different country to get a better tax rate.
The GOP unveiled a $928 billion infrastructure counteroffer today, which Massachusetts Sen. Elizabeth Warren told MSNBC is not a serious proposal.
The New York Times reported Biden's budget will increase total spending to $8.2 trillion by 2031 and will largely fund his infrastructure plans.
The Republicans' forthcoming $1 trillion proposal counters Biden's climbdown to $1.7 trillion, but the sides appear no closer to agreeing on taxes.