Former President Donald Trump and President Joe Biden's chief of staff recently met with the Business Roundtable in Washington to discuss corporate tax rates and economic policies. Trump expressed his desire to further reduce the corporate tax rate to 20%, emphasizing the need for tax cuts, lower inflation, and increased oil production. On the other hand, Biden's representative highlighted the importance of global alliances and independent institutions like the Federal Reserve in fostering trust and supporting U.S. capitalism.
The Business Roundtable, representing over 200 CEOs, has launched a campaign to maintain the current corporate tax rate at 21% and advocate for business-friendly changes to the tax code. While Trump aims to cut taxes, Biden plans to raise the corporate tax rate to 28% to fund programs for the middle class.
