The House of Representatives passed the Build Back Better Act on Nov. 19. Though the bill would implement several tax increases, it’s a far cry from Democrats’ initial ambitions for raising revenue through taxes.
On the campaign trail Joe Biden vowed to raise the corporate income tax rate to 28% from 21%. In the end, the bill contains a less aggressive 15% corporate minimum tax.
Likewise on individual taxes: Lawmakers floated several ideas, including raising the top individual tax rate to…
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