'Manchin and Sinema Are Caving': Senate Dems in Agreement Over New Proposal to Help Fund Spending Bill
Leah Barkoukis
Posted: Oct 27, 2021 8:00 AM
Senate Democrats appear to be in agreement over a new corporate tax proposal that would help pay for the president’s massive social spending bill.
The measure, which taxes corporations with more than $1 billion in annual profits at a 15 percent rate, was introduced by Sens. Elizabeth Warren (D-MA), Angus King (I-ME), and Ron Wyden (D-OR).
"We can't let billionaire corporations get away with paying almost nothing in taxes, while Americans are left holding the bag. My new plan with @SenAngusKing and @RonWyden will ensure these companies stop cheating the system," Warren tweeted.
Getting moderate Sens. Kyrsten Sinema and Joe Manchin on board is a big step for Democrats, especially considering the Arizona Democrat had previously been against changes to the corporate tax rate.
Now, in a statement released Tuesday, Sinema calls the Corporate Profits Minimum Tax “a commonsense step.”
"This proposal represents a commonsense step toward ensuring that highly profitable corporations—which sometimes can avoid the current corporate tax rate—pay a reasonable minimum corporate tax on their profits, just as everyday Arizonans and Arizona small businesses do," Sinema said.
"I look forward to continuing discussions with the White House and colleagues to expand economic opportunities, retain America's economic competitiveness, and help Arizona families get ahead," she added.
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https://townhall.com/tipsheet/leahbarkoukis/2021/10/27/manchin-sinema-corporate-tax-n2598097
