Biden says he will raise taxes immediately, even if the economy is struggling

Joe Biden said Thursday that despite the coronavirus-induced recession, he will raise taxes on corporations and the wealthy as soon as he can if elected.

When ABC News host George Stephanopoulos asked Biden during a town hall if he would raise the corporate tax rate even when the economy was struggling due to the pandemic, Biden said, “Absolutely.”

Biden has pledged to eliminate tax cuts that President Trump enacted through his 2017 Tax Cuts and Jobs Act. This would include raising the corporate tax back to 28% from its current rate of 21% and raise the taxes on those who make more than $400,000.

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