Study Finds Biden’s Corporate Tax Hikes Would Cost 1 Million JobsEpoch Times, United States politics | The Epoch Times

If President Joe Biden’s corporate tax hikes and other changes to the tax code are passed unchanged, one million jobs would be lost during the first two years following its passage and economic activity would also decrease, according to a new economic study (pdf). The study by the National Association of Manufacturers (NAM) conducted by Rice University economists found Biden’s infrastructure plans would cause a barrage of negative consequences. Biden has called for a corporate tax increase to 28 percent from the current 21 percent. “This study tells us quantitatively what manufacturers from coast to coast will tell you qualitatively: increasing the tax burden on companies in America means fewer American jobs. One million jobs would be lost in the first two years, to be exact,” said NAM President and CEO Jay Timmons in a statement on April 8. The study calculated the effects of increasing the corporate tax rate, increasing the …Read More

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