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Biden Unveils US Plan To Invest Billions In R&D, Manufacturing; Raise Corporate Tax Rate

Cal Biesecker By
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Biden Unveils US Plan To Invest Billions In R&D, Manufacturing; Raise Corporate Tax Rate
President Joe Biden. Photo: White House

President Biden on Wednesday was set to present a $2 trillion jobs plan for America that includes nearly $500 billion in proposed investments in spending on research and development and manufacturing, including for critical supply chain products, and also calls for increasing the corporate tax rate. The president’s spending plan is over eight years and the White House said the increase in the corporate tax rate to 28 percent from the current 21 percent, along with closing of various tax…

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