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Biden corporate tax hike would have little impact on business investment, Wharton study says

April 7, 2021


The proposed increase to the corporate tax rate in President Joe Biden’s landmark infrastructure plan will not lead to a significant reduction in business investment, according to a new study from the University of Pennsylvania’s Wharton School.

Of utmost interest to Wall Street is Biden’s plan to hike the corporate tax rate to 28% from 21% in what would amount to a partial rollback of former President Donald Trump’s 2017 tax cuts.

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