Reuters.com
By Jarrett Renshaw
April 16, 2021
The Biden administration is seeking to leverage a secret weapon in its bid to get corporate America to pay for a sweeping jobs and infrastructure package: the nation's some 30 million small businesses.
The White House's effort, previously unreported, seeks to harness the political popularity of small businesses and the current agitation among them over a tax structure many view as generous to larger, billion-dollar corporations like Walmart Inc (WMT.N) and Amazon.com Inc (AMZN.O) over Main Street establishments.
In doing so, the White House believes it has allies that will serve as an antidote to the large national trade groups – like the U.S. Chamber of Commerce and The Business Roundtable – who have come out in favor of infrastructure investment but strongly against President Joe Biden's plan to raise the corporate tax rate from 21% to 28%.
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