Understanding Joe Biden's 2020 Tax Plan | Committee for a Responsible Federal Budget
Former Vice President Joe Biden – the presumptive Democratic nominee for President in the 2020 election – has put forward a variety of tax proposals. Biden would raise the corporate tax rate from 21 to 28 percent, set minimum corporate taxes for domestic and foreign income, restore the top individual tax rate from 37 to 39.6 percent, tax capital gains as ordinary income and at death for very high earners, limit various tax breaks for higher earners, subject wages above $400,000 to the Social Security payroll tax, and pass various other cuts and increases.