Biden Puts Corp. AMT On Table In GOP Infrastructure Talks
Law360 (June 3, 2021, 6:48 PM EDT) -- In discussions with Republicans, President Joe Biden has proposed a 15% corporate alternative minimum tax combined with increased IRS enforcement as a way to pay for his infrastructure plan, a White House spokesperson said Thursday.
President Joe Biden's proposal to apply a 15% alternative minimum tax on the book income of large corporations was included in his American Jobs Plan. (AP Photo/Evan Vucci) While Biden has previously expressed support for implementing an AMT and stepping up enforcement by the Internal Revenue Service, his latest tack of deemphasizing an earlier proposal to increase the corporate income tax rate to 28% may help forge...
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