- US Pres Biden proposes raising corporation tax from 21% to 28%
Market news
9 March 2023
US Pres Biden proposes raising corporation tax from 21% to 28%
US President Joe Biden proposes raising corporation tax from 21% to 28% and this is moving the needle in markets.
Key notes
- Biden wants a 25% billionaire tax and large levies on rich investors.
- Biden proposes tax on income over $400,000 at 39.6% in budget.
''My budget will ask that the rich pay their fair share so the millions of workers who helped build that wealth can retire with the Medicare they paid into,'' Biden posted to Twitter.
US stocks futures are softer on the news.
Market Focus
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