(FOX BUSINESS) Democratic presidential candidate Joe Biden pledged to raise the tax rate that corporations pay on "day one" of his presidency, regardless of the nation's unemployment rate.
"I'd make the changes on the corporate taxes on day one," he told CNN's Jake Tapper on Thursday when asked whether he would wait for joblessness to decline.
The former vice president has vowed to raise the corporate tax rate from 21 percent to 28 percent, which he said is projected to raise $1.3 trillion over the next decade. The Trump administration permanently slashed the corporate tax rate from 35 percent to 21 percent with the passage of the 2017 Tax Cuts and Jobs Act.
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