Democrats Weigh Increases in Corporate, Personal Income-Tax Rates

Ruben Onsu

WASHINGTON—Democrats are considering a variety of possible tax increases, including boosting the corporate tax rate and the top marginal income-tax rate on individuals, to raise revenue as President Biden completes his infrastructure, climate and education proposal. After the recently signed $1.9 trillion coronavirus-relief package, White House officials have crafted a […]

WASHINGTON—Democrats are considering a variety of possible tax increases, including boosting the corporate tax rate and the top marginal income-tax rate on individuals, to raise revenue as President Biden completes his infrastructure, climate and education proposal.

After the recently signed $1.9 trillion coronavirus-relief package, White House officials have crafted a preliminary plan for the next legislative push, a roughly $3 trillion proposal split into two parts. One would be aimed at infrastructure projects such as roads, bridges and water systems, while a second would focus on education and antipoverty measures.

The plan also breaks the tax increases into two pieces, proposing to raise taxes on businesses as part of the infrastructure bill and reserving tax increases on high-income households for the second package, according to people familiar with the discussions.

The White House said Wednesday that Mr. Biden and his economic team are finishing the plan over the next several days, ahead of a speech Mr. Biden will make next Wednesday in Pittsburgh to discuss the plan.

Once the White House completes its proposals, lawmakers will have their own ideas about spending, taxes and the sequencing and packaging of the legislative agenda. Democrats in Congress have started discussions about tax increases, which they back as a way to pay for programs and combat inequality.

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