Current:Home > StocksBiden heads to his hometown of Scranton, Pennsylvania, to talk about taxes -AssetVision
Biden heads to his hometown of Scranton, Pennsylvania, to talk about taxes
View
Date:2025-04-19 09:07:40
WASHINGTON (AP) — President Joe Biden is headed to his hometown of Scranton, Pennsylvania on Tuesday to talk about who he believes should be paying more in taxes (billionaires) and who should be paying less (everyday Americans).
Biden’s campaign said in an announcement on Friday the upcoming speech on the day after Tax Day in the U.S. would “drive home a simple question: ‘Do you think the tax code should work for rich people or for the middle class?’ The President has made it clear what he thinks the answer is, and so has Donald Trump.”
As inflation persists and Americans feel the sting in their pocketbooks, the Democratic president is working to convince voters ahead of the November election that he is still their best choice — not Trump, Republicans’ presumptive presidential nominee. Despite the healthy job market, a near-record-high stock market and a decline in inflation from its peak, many Americans blame Biden for high prices, polls show.
Biden, who talks a lot about his middle-class upbringing and the kitchen table concerns of Americans, has proposed a minimum tax for billionaires of 25%. He has said over 10 years it would raise $500 billion.
“Imagine what we can do for America,” Biden said. “Look, folks, imagine a future with affordable child care, home care, elder care, paid leave.”
Voters soon may also get a chance to see how much Biden is paying in taxes. He usually releases his tax returns on or around Tax Day.
Trump, at a fundraiser hosted by billionaire investor John Paulson, told the crowd that he’d work to extend his sweeping tax cuts approved by congressional Republicans in 2017. The $1.5 trillion cuts reduced taxes for most Americans, but average people were not the prime beneficiaries. Aside from businesses, rich people benefited the most.
According to Trump’s campaign, the fundraiser raised a record $50.5 million.
veryGood! (4174)
Related
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- Joe Alwyn Steps Out for First Public Event Since Taylor Swift Breakup
- Climate Change Threatens 60% of Toxic Superfund Sites, GAO Finds
- This shade of gray can add $2,500 to the value of your home
- Average rate on 30
- A flash in the pan? Just weeks after launch, Instagram Threads app is already faltering
- In New Jersey Solar Decision, Economics Trumped Ideology
- Where Joe Jonas Stands With Taylor Swift 15 Years After Breaking Up With Her Over the Phone
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Biden says his own age doesn't register with him as he seeks second term
Ranking
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- Brooklyn’s Self-Powered Solar Building: A Game-Changer for Green Construction?
- 12 House Republicans Urge Congress to Cut ANWR Oil Drilling from Tax Bill
- Alfonso Ribeiro's Wife Shares Health Update on 4-Year-Old Daughter After Emergency Surgery
- At site of suspected mass killings, Syrians recall horrors, hope for answers
- Is a 1960 treaty between Pakistan and India killing the mighty Ravi River?
- Two doctors struck by tragedy in Sudan: One dead, one fleeing for his life
- New Samsung Galaxy devices are coming—this is your last chance to pre-order and get $50 off
Recommendation
Tom Holland's New Venture Revealed
Horrific details emerge after Idaho dad accused of killing 4 neighbors, including 2 teens
Exxon Promises to Cut Methane Leaks from U.S. Shale Oil and Gas Operations
'It's not for the faint-hearted' — the story of India's intrepid women seaweed divers
Head of the Federal Aviation Administration to resign, allowing Trump to pick his successor
Brazil police raid ex-President Bolsonaro's home in COVID vaccine card investigation
Hurry to Coach Outlet to Shop This $188 Shoulder Bag for Just $66
You'll Simply Adore Harry Styles' Reunion With Grammys Superfan Reina Lafantaisie