President Joe Biden has proposed raising the United States corporate tax rate from 21% to 28%, although he has suggested that he is willing to compromise and raise it to 25% instead if necessary. And according to a new survey by the organization Small Business for American’s Future, most small business owners in the United States are in favor of a corporate tax hike.
The survey was conducted from April 17 to May 5, and 1,052 small business owners participated. Small Business for America’s Future found that eight in ten of them supported Biden’s American Jobs Plan, and 67% of the participants favored raising corporate taxes in order to pay for it.
According to Small Business for America’s Future, “76% of small business owners think the American Jobs Plan will boost the economy, and 72% say it will help small businesses specifically; 51% of small business owners say raising taxes on Americans making more than $400,000 would not harm small businesses.” Continue reading.