“President Joe Biden’s American Jobs Plan, a signature part of his agenda to build an economy that empowers workers and families in the United States, promises once-in-a-generation investments in the long neglected guardrails of our economy. One part of the package has raised particular ire from corporate lobbyists and laissez-faire conservatives: Raising the corporate tax rate to 28%. But the White House should maintain its resolve.”

“Unless Biden leverages this moment to rein in corporate profits and power, he won’t be able to secure the historic gains for workers and families that his voters expect him to deliver. If he holds the line, Biden may usher in a new era of reconstruction for those long left behind.”

“Today, Americans overwhelmingly support raising corporate tax rates to finance the president’s vision for the reconstruction of our country’s infrastructure. The landscape of corporate market power is dramatically different today than it was even five years ago, too. With an assist from Trump’s anti-regulatory agenda, large corporations have gargantuan market power — and the last year has laid bare the negative consequences of this over-concentrated power, including inefficient and inequitable windfall profits.”

“If Biden holds firm on raising the corporate tax rate to 28%, he will create millions of new jobs, reignite U.S. manufacturing and chart a path to prosperity for workers and families long left behind. He will be remembered as a president who invested in our children, workers and infrastructure, and ultimately helped build an economy that works for everyone—across every class and race.”