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Trump Tax Cuts Set to Win Staying Power as Democrats Drop Plans

  • Biden says rate hike unlikely as Democrats seek alternatives
  • Possible survival of Trump cut surprises people on both sides
Joe Biden on Oct. 25.
Joe Biden on Oct. 25.Photographer: Chris Kleponis/CNP/Bloomberg

President Joe Biden will likely be unable to keep one of his key campaign promises -- to roll back his predecessor’s historically unpopular 2017 tax cuts -- because of unyielding resistance among even some in his own party to raise taxes.

While Biden won applause on the campaign trail for pledging to repeal President Donald Trump’s tax overhaul on “day one,” as president he has run into the same political reality faced by Barack Obama, who kept the vast majority of George W. Bush’s tax reductions: raising taxes is a hard lift in Congress.