Biden: 'I'm a capitalist, but the rich and corporations should pay their fair share'
The Democrat alluded to a law he signed last August that set the minimum corporate tax rate at 15%.
247 - US President Joe Biden urged the nation's wealthiest citizens and large corporations to do their part and pay their taxes.
"Look, I'm a capitalist. But the biggest and richest corporations need to pay their fair share," Biden said.
The Democrat alluded to a law he signed last August that set the minimum corporate tax rate at 15%, intended for companies that earn more than $1 billion a year.
The Inflation Reduction Act also includes a $369 billion investment in climate and energy policies and $64 billion to extend a policy under the Patient Protection and Affordable Care Act to reduce health insurance costs.
The legislation provides for the relaxation of rules regarding state aid for investments in clean energy industries, as well as the provision of tax credits and funds for sectors crucial to the green transition.
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