My plan is very clear: we will not raise taxes on anyone making under $400,000 a year.
It’s only corporations and people making over $400,000 a year who will see their taxes go up.
Big corporations and the super wealthy have to start paying their fair share.
It is long overdue.
RT @WhiteHouse: Press Sec. Jen Psaki sat down to answer your questions about the President’s Build Back Better Agenda.
Here’s the topline…
My Build Back Better Agenda benefits ordinary, hardworking Americans — not those at the top.
It’s a historic middle class tax cut — cutting taxes for over 50 million families.
We’re facing an inflection point with the climate crisis — and the time to act is now. This morning, I reconvened the Major Economies Forum on Energy and Climate to discuss our progress here at home and how we can rally the world to tackle this crisis with the urgency it demands.
Today in this country, the top 1% evade an estimated $160 billion in taxes each year.
55 of the most profitable corporations in America pay zero dollars in federal income taxes on $40 billion in profit.
It just isn’t right — and my economic plan will change it.
I believe we’re at an inflection point.
Are we going to continue with an economy where the overwhelming share of the benefits go to the top?
Or will we choose a new path? One that invests in this nation and creates growth that benefits everyone.
I can’t believe this has to be said, but a teacher shouldn’t pay a higher tax rate than a hedge fund manager.
My Republican friends are attacking my plan — saying it’s “big spending.”
I have to laugh when I hear that one.
These are the same folks who passed the Trump tax cuts, almost $2 trillion, a giant giveaway to corporations and the top 1% — and almost none of it was paid for.
For a long time, this economy has worked great for those at the top. While ordinary, hardworking Americans — the people who built this country — have been cut out of the deal.
This is our moment to change that. This is our moment to deal working people back in.
Yes, we face a crisis with climate change. But we also face an unprecedented opportunity.
To create the good-paying, union jobs of the future. To create the industries of the future. To win the future. And to save the planet.
We can do this.
We have the tools to defeat COVID-19, but we just have to finish the job. With truth, with science, and with confidence.
Together — as one nation.
I’ve set a course for the U.S. to achieve 100% clean electricity by 2035, and to reach net-zero emissions economy-wide by 2050.
We can do this in a way that creates good jobs, lowers costs, and makes us global leaders of entirely new industries.