Joe Biden
Published 2 hours ago
If Biden wins, he tells his Wall Street supporters he can’t wait to raise taxes
Biden believes increasing taxes is a 'moral issue' and the best way to begin minimizing the wealth inequality in America
By Lydia Moynihan, Charlie GasparinoFOXBusiness
The polls may be tightening as the 2020 presidential election is just over a week away, but Democratic nominee Joe Biden and his top advisers are already laying out an aggressive economic agenda that would make raising taxes their top and immediate priority if the former vice president is elected, FOX Business has learned.
Biden continues to tell Wall Street supporters his sweeping plan for tax increases on wealthy individuals and corporations will likely be introduced as legislation almost immediately upon taking office despite the nation’s pandemic-induced economic slowdown, people familiar with Biden’s campaign strategy tell FOX Business.
Biden advisers are counting on a blue wave to usher him into the White House — along with a Democratic Senate that will help them get their tax increases passed quickly and without compromise.
Much of the urgency stems from the need to raise revenue to pass Biden’s signature legislation — the $2 trillion infrastructure package that focuses on clean energy and that would be implemented over Biden’s first term, these people say. This spending package is the sine qua non of his campaign promise to jumpstart the economy hampered now by the coronavirus pandemic as well as address some climate concerns of Democratic voters.
People close to Biden say his urgency to pass tax increases is also guided by other forces. As FOX Business has previously reported, Biden believes increasing taxes is a "moral issue" and the best way to begin minimizing the wealth inequality in America that he believes has been exacerbated by the Trump administration’s rollback on taxes.
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https://www.foxbusiness.com/politics/biden-raising-taxes-top-priority-trump-election-wall-street
