97% of small-business owners won’t face income tax increase under Biden tax plan

WASHINGTON, DC - AUGUST 18: U.S. President Joe Biden delivers remarks on the COVID-19 response and the vaccination program in the East Room of the White House on August 18, 2021 in Washington, DC. During his remarks, President Biden announced that he is ordering the United States Department of Health and Human Services to require nursing homes to have vaccinated staff in order for them to receive Medicare and Medicaid funding. The President also announced that Americans would be able to receive a third booster shot against Covid-19. (Photo by Anna Moneymaker/Getty Images)

WASHINGTON, DC – AUGUST 18: U.S. President Joe Biden delivers remarks on the COVID-19 response and the vaccination program. (Photo by Anna Moneymaker/Getty Images)

Ninety-seven percent of small-business owners will not face an income tax increase if President Biden’s tax plan becomes law, according to new analysis released by the Treasury Department on Thursday. 

Biden is seeking to raise taxes on corporations and the wealthiest Americans to help fund a $3.5 trillion plan that would include…


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