Biden Defends Tax Hikes on Rich Americans That Will Fund Cuts for Many More

President Joe Biden told voters in an Atlanta suburb that his proposed tax increases on the wealthy would finance tax cuts for many more Americans, as he took to the road to sell his plans to build infrastructure and invest in education, child care and other priorities.

“This is a tax cut for more than two million families in Georgia,” Biden said of his proposals during a drive-in rally in Gwinnett County, marking his first 100 days in office.

“It’s about time the very wealthy and corporations start paying their fair share,” he said. “It’s about time. Simple as that.”

Biden traveled to the state -- a political battleground after major Democratic victories in November and January -- following his first address to a joint session of Congress on Wednesday. In the speech, he unveiled a sweeping $1.8 trillion proposal that would expand educational opportunities and child care for families, financed in part by the largest tax increases on wealthy Americans in decades.

Biden defended the proposal – and a $2.25 trillion companion infrastructure plan that would be partly funded through higher corporate tax rates – as a “once in a generation investment in America” that would create millions of jobs.

A 15% minimum “book tax” for U.S. corporations, he said, would raise enough to “pay for all of this.”

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