Mush's tax plans scratched
Biden's unrealized campaign tax pledges illustrate the political difficulty of changing the U.S. tax code, barring a commanding majority in Congress.
Steve Rosenthal, a senior fellow at the left-leaning Urban-Brookings Tax Policy Center in Washington, said it may be difficult for Biden to reprise his "very powerful" 2020 tax agenda.
"Very little of it was accomplished in the Inflation Reduction Act, and nothing was advanced as part of these debt ceiling negotiations," Rosenthal said. "So how credible will Biden be running on a platform of closing loopholes and raising taxes on the rich and corporations?"
Biden's unrealized campaign tax pledges illustrate the political difficulty of changing the U.S. tax code, barring a commanding majority in Congress.
Steve Rosenthal, a senior fellow at the left-leaning Urban-Brookings Tax Policy Center in Washington, said it may be difficult for Biden to reprise his "very powerful" 2020 tax agenda.
"Very little of it was accomplished in the Inflation Reduction Act, and nothing was advanced as part of these debt ceiling negotiations," Rosenthal said. "So how credible will Biden be running on a platform of closing loopholes and raising taxes on the rich and corporations?"