Current:Home > MyBiden heads to his hometown of Scranton, Pennsylvania, to talk about taxes -Financial Clarity Guides
Biden heads to his hometown of Scranton, Pennsylvania, to talk about taxes
View
Date:2025-04-18 01:27:14
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! (986)
Related
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- Judge quickly denies request to discard $38 million verdict in New Hampshire youth center abuse case
- Missouri lawmakers renew crucial $4B Medicaid tax program
- Nearly 80 officials overseeing elections in 7 swing states doubt 2020 results
- Where will Elmo go? HBO moves away from 'Sesame Street'
- Boeing could be criminally prosecuted after it allegedly breached terms of 2021 agreement, feds say
- Barge hits Texas bridge connecting Galveston and Pelican Island, causing partial collapse and oil spill
- After a 3-year search, suspect who texted 'so I raped you' to US college student arrested
- Small twin
- 2024 NFL Team Schedules
Ranking
- The Grammy nominee you need to hear: Esperanza Spalding
- The jurors in Trump’s hush money trial are getting a front row seat to history -- most of the time
- GameStop, AMC shares tumble as the meme stock fervor fades
- What we know, and don’t know, about the presidential debates
- Senate begins final push to expand Social Security benefits for millions of people
- Future of Texas’ migrant-blocking buoys may hinge on whether the Rio Grande is ‘navigable’
- EU agrees on a new migration pact. Mainstream parties hope it will deprive the far right of votes
- Port of New Orleans’ chief resigning amid praise for moves to advance new cargo terminal project
Recommendation
SFO's new sensory room helps neurodivergent travelers fight flying jitters
Department of Justice says Boeing may be criminally liable in 737 Max crashes
DeSantis signs Florida bill making climate change a lesser priority and bans offshore wind turbines
Angela Bassett mourns loss of '9-1-1' crew member who died in crash: 'We're all rocked by it'
What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
Kansas governor cites competition concerns while vetoing measure for school gun-detection technology
Who gets to claim self-defense in shootings? Airman’s death sparks debate over race and gun rights
Liam Payne’s Ex Maya Henry Says She Felt Pressured Into Getting Abortion in Past Relationship