10 things you need to know today: April 8, 2021

Biden says his proposed corporate tax hike is negotiable, Manchin rules out voting to end the filibuster, and more

Manchin in February
(Image credit: Joshua Roberts-Pool/Getty Images)

1. Biden says corporate tax hike negotiable

President Biden said Wednesday that he would consider reducing the corporate tax hike he's proposing to pay for his more than $2 trillion infrastructure and jobs plan, but he added that doing nothing was not an option. Republicans oppose Biden's call for raising the corporate tax rate to 28 percent from the 21 percent established in former President Donald Trump's 2017 tax cut, and even some moderate Democrats are against raising the rate beyond 25 percent. "Debate is welcome. Compromise is inevitable. Changes are certain," Biden said, adding that he would invite Republican lawmakers to the White House to discuss the proposal. Biden's plan calls for building roads and bridges, expanding broadband internet access, caring for the elderly, building high-speed rail, and other projects over eight years.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.