Big changes in White House ideas to pay for $2 trillion plan
SCRANTON, Pa. (AP) — The White House is floating new plans for ways to pay for President Joe Biden’s $2 trillion proposal for expanding social services and tackling climate change. The ideas include shelving a proposed big increase in corporate tax rates though also adding a new billionaires’ tax on the investment gains of the very richest Americans.
The changes came as Biden returned to his hometown of Scranton, Pennsylvania on Wednesday to highlight what he says are the middle class values in the plan. Democrats are racing to finish the package but Biden has faced resistance from key holdouts not on board with plans to get rid of Trump-era tax breaks to help pay for it.