President Joe Biden will ask Congress to raise taxes on corporations during his annual State of the Union address, laying out his tax agenda as the election fast approaches.
Biden will speak before both chambers of Congress and make the case that he should get another term as president. The corporate tax hikes that Biden is expected to propose are largely aspirational, at least for this year, because Republicans hold the House and Democrats hold only a tenuous majority in the Senate.
Specifically, Biden will propose raising the headline corporate tax rate from 21% to 28%, a push he has unsuccessfully made in the past. The 2017 tax cuts, championed by then-President Donald Trump, lowered the corporate rate from 35%.
Biden will also announce during the State of the Union
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