United States President Joe Biden signs S.J.Res.14, one of the three Congressional Review Act bills, into law in Washington, DC. The bills aim to reverse Trump era policies related to worker discrimination, methane emissions and the 'True Lender' rule. Featuring: President Joe Biden, Nancy Pelosi Where: Washington, District Of Columbia, United States When: 30 Jun 2021 Credit: POOL via CNP/INSTARimages/Cover Images
WASHINGTON (Reuters) – House Democrats are expected to propose raising the U.S. corporate tax rate to 26.5% from 21%, the Wall Street Journal reported Sunday, citing a congressional aide.
Democrats are also expected to propose a 3% surtax on individual income above $5 million as part of a wide-ranging budget bill. They are also considering raising the minimum tax on U.S. companies’ foreign income to 16.5% from 10.5% and the top capital gains tax rate to 28.8% from 23.8%, the Journal reported.
(Reporting by Pete Schroeder; editing by Diane Craft)
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