The New York Times
BREAKING NEWS
The Biden administration detailed corporate tax increases that would raise $2.5 trillion over 15 years for infrastructure spending.
Wednesday, April 7, 2021 11:34 AM EST
The plan, if enacted, would usher in major changes for American companies, which have long embraced quirks in the tax code that allowed them to lower or eliminate their tax liability, often by shifting profits overseas.
It also includes efforts to help combat climate change, proposing to replace fossil fuel subsidies with tax incentives that promote clean energy production.
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