London Daily

Focus on the big picture.
Friday, Feb 13, 2026

Biden softens on corporate tax hike, saying it could be set between 25% and 28%

Biden softens on corporate tax hike, saying it could be set between 25% and 28%

"What I'm proposing is badly needed and able to be paid for and still grow," Biden said in a speech. "Trickle-down ain't working very well, man."

In an address in Louisiana, President Joe Biden said the corporate tax rate should be between 25% and 28% — a potential sign of compromise with moderate Democrats.

Biden had proposed a 28% corporate tax rate, an increase from its current rate of 21%, to offset his planned infrastructure spending. The rate was slashed from 35% in former President Donald Trump's 2017 tax law.

"That's a couple hundred billion dollars," Biden said of upping the rate. "We can pay for these things. I'm not talking about deficit spending."

He added: "What I'm proposing is badly needed and able to be paid for and still grow. Trickle-down ain't working very well, man."

Biden has previously signaled he's open to compromising on the corporate tax rate, but he's also defended the 28% level, and hasn't explicitly mentioned 25% as realistic before. In a prior speech when he said the 35% rate was too high, he added that he was "sick and tired of ordinary people being fleeced."

"What I'm proposing is that we meet in the middle: 28%. Twenty-eight percent — we'll still have lower corporate rates than any time between World War Two and 2017," Biden said. "It will generate over $1 trillion in taxes over 15 years."

Moderate Democrats like Joe Manchin have indicated they favor a 25% corporate tax rate


Sen. Joe Manchin, a pivotal vote for the Democrats' razor-thin Senate majority, has made it clear that he favors more of a 25% rate. In an interview with Talkline, a West Virginia radio show, Manchin said the rate should have never gone below 25%.

"That's the worldwide average," he said. "And that's what basically every corporation would have told you was fair."

Sen. Mark Warner (D-Va.) has also expressed his hesitations, telling NBC that he wouldn't "wouldn't go as far as 28% on the corporate rate."

Axios reported that Senate Democrats were likely to pursue a 25% corporate tax rate, which would not offset the entire cost of Biden's proposed spending. It would, however, bring moderates like Manchin into the fold — and potentially get them on board with another party-line vote.

Biden also discussed a similar rate in a bipartisan infrastructure meeting in April. He said in Thursday's speech that he'd be meeting with his "Republican friends" to discuss the plan. However, Senate Minority Leader Mitch McConnell (R-Ky.) has said that revisions to the 2017 tax bill are off limits, and has drawn a red line at $600 billion in infrastructure spending.

But, while Biden said he's open to compromise, he's not ready to do nothing: "I'm not ready to have another period where America has another infrastructure month and doesn't change a damn thing."

Newsletter

Related Articles

0:00
0:00
Close
UK Green Party Considering Proposal to Legalize Heroin for an Inclusive Society
SpaceX's New Vision: Lunar City Takes Precedence Over Mars Colonization
OpenAI and DeepCent Superintelligence Race: Artificial General Intelligence and AI Agents as a National Security Arms Race
Document Suggests Prince Andrew Shared UK Briefing on Afghan Investment Opportunities with Jeffrey Epstein
We will protect them from the digital Wild West.’ Another country will ban social media for under-16s
McDonald's Shortens Breakfast Hours in Australia Due to Egg Shortage
Heineken announces cut of 6,000 jobs due to declining beer demand
Beijing Brands UK Hong Kong Visa Expansion ‘Despicable and Reprehensible’ After Jimmy Lai Sentencing
Tesco Chief Warns UK Is ‘Sleepwalking’ Toward a Joblessness Crisis
Trump’s ‘Act of Great Stupidity’ Comment on UK Chagos Deal Reverberates Through Diplomacy and Strategy
New U.S. filings say Jeffrey Epstein repaid Les Wexner one hundred million dollars after theft allegation
Commerce Secretary Howard Lutnick acknowledges 2012 visit to Jeffrey Epstein’s private island as lawmakers scrutinise past ties
Helsing and Stark Defence loitering-munition drones and Germany’s race to industrialise battlefield autonomy
UK orders deletion of Courtsdesk court-data archive, reigniting the fight over who controls public justice records
UK Police Review Fresh Claims Involving Prince Andrew as Senior Royals Respond to Epstein Files
Keir Starmer’s Premiership Faces Unprecedented Strain as Epstein Fallout Deepens
Starmer Vows to Stay in Office as UK Government Faces Turmoil After Epstein Fallout
China and UK Signal Tentative Reset with Commitment to Steadier, Professionally Managed Relations
UK Confirms Imminent Increase in ETA Fee to £20 as Entry Rules Tighten
UK Signals Possible Seizure of Russia-Linked ‘Shadow Fleet’ Tanker in Escalation of Sanctions Enforcement
Epstein Scandal Piles Unprecedented Pressure on UK Prime Minister Keir Starmer’s Leadership
UK’s ‘Most Romantic Village’ Celebrates Valentine’s Day and Explores the Festival’s Rich History
The Implications of Expanding Voting Rights to Non-EU Foreign Residents in France
Ghislaine Maxwell to Testify Before US Congress on February 9
Al.com Acquired by Crypto.com Founder for $70 Million
Apple iPhone Lockdown Mode blocks FBI data access in journalist device seizure
Belgium: Man Charged with Rape After Faking Payment to Sex Worker
KPMG Urges Auditor to Relay AI Cost Savings
US and Iran to Begin Nuclear Talks in Oman
Winklevoss-Led Gemini to Slash a Quarter of Jobs and Exit European and Australian Markets
Canada Opens First Consulate in Greenland Amid Rising Geopolitical Tensions
China unveils plans for a 'Death Star' capable of launching missile strikes from space
NASA allows astronauts to take smartphones on upcoming missions to capture special moments.
Trump administration to launch TrumpRx.gov for direct drug purchases
Investigation Launched at Winter Olympics Over Ski Jumpers Injecting Hyaluronic Acid
U.S. State Department Issues Urgent Travel Warning for Citizens to Leave Iran Immediately
Wall Street Erases All Gains of 2026; Bitcoin Plummets 14% to $63,000
Epstein Case Documents Reignite Global Scrutiny of Political and Business Elites
Eighty-one-year-old man in the United States fatally shoots Uber driver after scam threat
UK Royal Family Faces Intensifying Strain as Epstein-Linked Revelations Rock the Institution
Political Censorship: French Prosecutors Raid Musk’s X Offices in Paris
AI Invented “Hot Springs” — Tourists Arrived and Were Shocked
Tech Mega-Donors Power Trump-Aligned Fundraising Surge to $429 Million Ahead of 2026 Midterms
UK Pharma Watchdog Rules Sanofi Breached Industry Code With RSV Vaccine Claims Against Pfizer
Melania Documentary Opens Modestly in UK with Mixed Global Box Office Performance
Starmer Arrives in Shanghai to Promote British Trade and Investment
Harry Styles, Anthony Joshua and Premier League Stars Among UK’s Top Taxpayers
New Epstein Files Include Images of Former Prince Andrew Kneeling Over Unidentified Woman
Starmer Urges Former Prince Andrew to Testify Before US Congress About Epstein Ties
Starmer Extends Invitation to Japan’s Prime Minister After Strategic Tokyo Talks
×