When Is the Earliest Tax Rates Could Change Under Biden?

Matthew Frankel, CFP, The Motley Fool
·4-min read
When Is the Earliest Tax Rates Could Change Under Biden?

The best way to sum up President-elect Joe Biden's tax plan would be to say he wants to raise taxes on high-income households and corporations. Increase the corporate tax rate -- President Trump's tax plan lowered the corporate tax rate from 35% to 21%. While Biden generally agrees 35% was too high, he wants to raise it to 28%.