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A majority of CEOs say Biden's proposed corporate tax hike could undo the economic gains from Trump's cuts

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American business leaders are warning a corporate tax rate hike proposed by President Joe Biden could make it harder to hire …
Subscriber Account active since American business leaders are warning a corporate tax rate hike proposed by President Joe Biden could make it harder to hire workers and increase their wages. In a survey of 178 CEOs conducted by the Business Round Table published Monday, a majority of respondents said the increase — from 21% to 28% — put forward by the White House in March would hinder economic expansion, research and development spending, wage growth, and hiring. The results showed: « As we look toward recovering from the COVID-19 pandemic, keeping competitive tax policies in place is needed to help reinvigorate the U.S. economy and lead to more opportunity for Americans, » Gregory J. Hayes, chief executive of Raytheon and chair of the Business Roundtable Tax and Fiscal Policy Committee, said in a release.

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