Brainard Vows Corporate Tax Hike With Trump Cuts Set to Expire
- White House adviser’s speech sets marker for 2025 tax fight
- Republicans dug in against higher taxes for companies
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President Joe Biden’s top economic adviser pledged Democrats would push to reverse Donald Trump’s corporate tax cuts next year, setting up a battle with Republicans over a tax law with provisions slated to expire at the end of 2025.
“It’s clear we need to end the 2017 tax breaks for the ultra-wealthy and scale back costly permanent corporate tax breaks,” White House National Economic Council Director Lael Brainard said Friday during a speech in Washington. “Our tax system currently asks much less of corporations than it used to.”