- June 13, 2021
- Posted by: Stratford Team
- Category: Business
Over half of business associations affiliated with a new coalition to oppose Democratic efforts to raise taxes on wealthy individuals and corporations spent over $3 million in lobbying expenditures in the first quarter of 2021. The coalition of 28 associations formed in late May.
The alliance, America’s Job Creators for a Strong Recovery, will oppose all legislation aimed at increasing taxes on corporations and businesses, arguing that tax hikes would impede the U.S. economy’s recovery from the COVID-19 pandemic.
The lobbying effort comes while President Joe Biden is trying to sell his infrastructure plan that would raise the corporate tax rate from 21% to 28%. Biden backed down from that tax hike after GOP members said they would not agree to the tax increases. The president stuck to his proposal to close corporate tax loopholes and ensure companies pay at least a 15% tax on profits earned abroad. The infrastructure bill, dubbed the “American…
