Current:Home > InvestBiden heads to his hometown of Scranton, Pennsylvania, to talk about taxes -Aspire Money Growth
Biden heads to his hometown of Scranton, Pennsylvania, to talk about taxes
View
Date:2025-04-15 22:43:03
WASHINGTON (AP) — President Joe Biden is headed to his hometown of Scranton, Pennsylvania on Tuesday to talk about who he believes should be paying more in taxes (billionaires) and who should be paying less (everyday Americans).
Biden’s campaign said in an announcement on Friday the upcoming speech on the day after Tax Day in the U.S. would “drive home a simple question: ‘Do you think the tax code should work for rich people or for the middle class?’ The President has made it clear what he thinks the answer is, and so has Donald Trump.”
As inflation persists and Americans feel the sting in their pocketbooks, the Democratic president is working to convince voters ahead of the November election that he is still their best choice — not Trump, Republicans’ presumptive presidential nominee. Despite the healthy job market, a near-record-high stock market and a decline in inflation from its peak, many Americans blame Biden for high prices, polls show.
Biden, who talks a lot about his middle-class upbringing and the kitchen table concerns of Americans, has proposed a minimum tax for billionaires of 25%. He has said over 10 years it would raise $500 billion.
“Imagine what we can do for America,” Biden said. “Look, folks, imagine a future with affordable child care, home care, elder care, paid leave.”
Voters soon may also get a chance to see how much Biden is paying in taxes. He usually releases his tax returns on or around Tax Day.
Trump, at a fundraiser hosted by billionaire investor John Paulson, told the crowd that he’d work to extend his sweeping tax cuts approved by congressional Republicans in 2017. The $1.5 trillion cuts reduced taxes for most Americans, but average people were not the prime beneficiaries. Aside from businesses, rich people benefited the most.
According to Trump’s campaign, the fundraiser raised a record $50.5 million.
veryGood! (954)
Related
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- An apocalyptic vacation in 'Leave The World Behind'
- Texas judge to consider pregnant woman’s request for order allowing her to have an abortion
- Halle Berry Reveals She Had “Rocky Start” Working With Angelina Jolie
- See you latte: Starbucks plans to cut 30% of its menu
- Sara Bareilles admits she was 'freaked out' recording 'Waitress' live musical movie
- A milestone for Notre Dame: 1 year until cathedral reopens to public after devastating fire
- Did you get a credit approval offer from Credit Karma? You could be owed money.
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- China’s exports in November edged higher for the first time in 7 months, while imports fell
Ranking
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- 'Good enough, not perfect': How to manage the emotional labor of being 'Mama Claus'
- Westchester County Executive George Latimer announces campaign against Congressman Jamaal Bowman
- What to know about Hanukkah and how it’s celebrated around the world
- The company planning a successor to Concorde makes its first supersonic test
- Russian schoolgirl shoots several classmates, leaving 1 dead, before killing herself
- Washington Post workers prepare for historic strike amid layoffs and contract negotiations
- 49ers LB Dre Greenlaw, Eagles head of security Dom DiSandro exchange apology
Recommendation
Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
Sundance Film Festival 2024 lineup features Kristen Stewart, Saoirse Ronan, Steven Yeun, more
Trevor Lawrence says he feels 'better than he would've thought' after ankle injury
Ancient 'ghost galaxy' shrouded in dust detected by NASA: What makes this 'monster' special
Travis Hunter, the 2
Texas judge to consider pregnant woman’s request for order allowing her to have an abortion
An appreciation: How Norman Lear changed television — and with it American life — in the 1970s
Indonesia ends search for victims of eruption at Mount Marapi volcano that killed 23 climbers