WASHINGTON, D.C. – Today, Senator Rick Scott released the below statement following reports of President Biden’s plan to increase the corporate tax rate from 21% to 28%. Estimates show that President Biden’s proposal would kill 159,000 jobs, reduce long-run economic output and reduce wages.
Senator Rick Scott said, “President Biden does not care about getting people back to work, spurring economic growth or helping American families and businesses thrive. Biden’s disastrous plan to increase the corporate tax rate by more than 30 percent will have devastating impacts on American families and businesses. His plan will kill 159,000 jobs. That’s 159,000 opportunities stolen from American families. I grew up in a poor family and I watched my parents struggle to find work. I know the value of a job. Biden’s agenda doesn’t make any sense. Now is not the time to attack our job creators.
“With every one of these bad policies, President Biden hands a victory to Communist China and our other adversaries. The Biden Administration needs to end its job-killing war on the American economy and focus on making the U.S. more competitive and attractive to businesses and manufacturers.”