Current:Home > InvestBiden heads to his hometown of Scranton, Pennsylvania, to talk about taxes -WealthGrow Network
Biden heads to his hometown of Scranton, Pennsylvania, to talk about taxes
Surpassing View
Date:2025-04-08 15:06:46
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! (83426)
Related
- Meet first time Grammy nominee Charley Crockett
- Harris and Trump offer worlds-apart contrasts on top issues in presidential race
- Scientists think they know the origin of the asteroid that wiped out the dinosaurs
- Immigrants prepare for new Biden protections with excitement and concern
- South Korean president's party divided over defiant martial law speech
- Bronze statue of John Lewis replaces more than 100-year-old Confederate monument
- Taylor Swift's best friend since childhood gives birth to sweet baby boy
- Heart disease is rampant in parts of the rural South. Researchers are hitting the road to learn why
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- 'AGT' comedian Perry Kurtz dead at 73 after alleged hit-and-run
Ranking
- Head of the Federal Aviation Administration to resign, allowing Trump to pick his successor
- Minnesota Vikings bolster depleted secondary, sign veteran corner Stephon Gilmore
- Who plays Emily, Sylvie, Gabriel and Camille in 'Emily in Paris'? See full Season 4 cast
- As new real estate agent rule goes into effect, will buyers and sellers see impact?
- Tom Holland's New Venture Revealed
- Heart disease is rampant in parts of the rural South. Researchers are hitting the road to learn why
- When does 'Emily in Paris' Season 4 Part 2 come out? Release date, how to watch new episodes
- Ionescu, Stewart, Jones lead Liberty over Aces 79-67, becoming first team to clinch playoff berth
Recommendation
At site of suspected mass killings, Syrians recall horrors, hope for answers
Who plays Emily, Sylvie, Gabriel and Camille in 'Emily in Paris'? See full Season 4 cast
Russian artist released in swap builds a new life in Germany, now free to marry her partner
Harris Stirs Hope for a New Chapter in Climate Action
McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
Alligators and swamp buggies: How a roadside attraction in Orlando staved off extinction
Indiana Jones’ iconic felt fedora fetches $630,000 at auction
Election officials keep Green Party presidential candidate on Wisconsin ballot