UPS favors ‘user pay’ model - Atlanta Journal Constitution
Company lauds Biden plan but opposes higher corporate taxes
Sandy Springs-based UPS said Thursday it opposes a proposed hike in corporate tax rates to pay for President Joe Biden’s infrastructure plan.
Biden last week outlined a $2.3 trillion plan to build up the nation’s infrastructure over the next eight years, for everything from roads, bridges, public transit, electric vehicle charging stations to upgrading sewers, broadband Internet and the power grid.
To help pay for it, Biden proposed increasing the U.S. corporate tax rate to 28% from 21%. The tax rate on corporate profits was cut to 21% from 35% through the Tax Cuts and Jobs Act in 2017 under then-President Donald Trump.
Company lauds Biden plan but opposes higher corporate taxes
Sandy Springs-based UPS said Thursday it opposes a proposed hike in corporate tax rates to pay for President Joe Biden’s infrastructure plan.
Biden last week outlined a $2.3 trillion plan to build up the nation’s infrastructure over the next eight years, for everything from roads, bridges, public transit, electric vehicle charging stations to upgrading sewers, broadband Internet and the power grid.
To help pay for it, Biden proposed increasing the U.S. corporate tax rate to 28% from 21%. The tax rate on corporate profits was cut to 21% from 35% through the Tax Cuts and Jobs Act in 2017 under then-President Donald Trump.