Current:Home > StocksBiden heads to his hometown of Scranton, Pennsylvania, to talk about taxes -MoneyBase
Biden heads to his hometown of Scranton, Pennsylvania, to talk about taxes
View
Date:2025-04-16 15:10:58
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! (11)
Related
- In ‘Nickel Boys,’ striving for a new way to see
- Dennis Quaid Has Rare Public Outing With His and Meg Ryan's Look-Alike Son Jack Quaid
- Michigan deserved this title. But the silly and unnecessary scandals won't be forgotten.
- Third Eye Blind reveals dates and cities for Summer Gods 2024 tour
- The Super Bowl could end in a 'three
- Let Kate Hudson's Advice Help You Not Lose Motivation for Your Health Goals in 10 Days
- RHOSLC Reunion: The Rumors and Nastiness Continue in Dramatic Preview
- Michael Penix Jr. overcame injury history, but not Michigan's defense, in CFP title game
- New Zealand official reverses visa refusal for US conservative influencer Candace Owens
- Michigan vs Washington highlights: How Wolverines beat Huskies for national championship
Ranking
- 'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
- Kremlin foe Navalny says he’s been put in a punishment cell in an Arctic prison colony
- Defense Secretary Austin was treated for prostate cancer and a urinary tract infection, doctors say
- Colts owner Jim Irsay being treated for severe respiratory illness
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Trump suggests unauthorized migrants will vote. The idea stirs his base, but ignores reality
- Sinéad O'Connor died of natural causes, coroner says
- Details on Prince Andrew allegations emerge from new Jeffrey Epstein documents — but no U.K. police investigation
Recommendation
Small twin
Kimmel says he’d accept an apology from Aaron Rodgers but doesn’t expect one
A fuel leak forces a US company to abandon its moon landing attempt
Judge issues arrest warrant for man accused of killing thousands of bald eagles
Trump's 'stop
Onetime ambassador Stuart E. Eizenstat to release a book, ‘The Art of Diplomacy’
Germany’s last major department store chain files for insolvency protection for the third time
Moon landing attempt by U.S. company appears doomed after 'critical' fuel leak