Current:Home > MarketsBiden heads to his hometown of Scranton, Pennsylvania, to talk about taxes -Streamline Finance
Biden heads to his hometown of Scranton, Pennsylvania, to talk about taxes
View
Date:2025-04-17 08:04:57
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! (5)
Related
- Olympic disqualification of gold medal hopeful exposes 'dark side' of women's wrestling
- With less access to paid leave, rural workers face hard choices about health, family
- Illinois becomes first state in U.S. to outlaw book bans in libraries: Regimes ban books, not democracies
- 7 tiny hacks that can improve your to-do list
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- See How Kaley Cuoco, Keke Palmer and More Celebs Are Celebrating Mother's Day 2023
- Get Budge-Proof, Natural-Looking Eyebrows With This 44% Off Deal From It Cosmetics
- Did Damar Hamlin experience commotio cordis? What to know about the rare phenomenon
- NCAA hits former Michigan coach Jim Harbaugh with suspension, show-cause for recruiting violations
- How are Trump's federal charges different from the New York indictment? Legal experts explain the distinctions
Ranking
- Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
- 3,000+ young children accidentally ate weed edibles in 2021, study finds
- California’s Wildfire and Climate Change Warnings Are Still Too Conservative, Scientist Says
- Many ERs offer minimal care for miscarriage. One group wants that to change
- PHOTO COLLECTION: AP Top Photos of the Day Wednesday August 7, 2024
- Army Corps Halts Dakota Access Pipeline, Pending Review
- West Virginia Said to Be Considering a Geothermal Energy Future
- Bernie Sanders on Climate Change: Where the Candidate Stands
Recommendation
'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
1 person dead after shooting inside Washington state movie theater
U.S. Starts Process to Open Arctic to Offshore Drilling, Despite Federal Lawsuit
Get Budge-Proof, Natural-Looking Eyebrows With This 44% Off Deal From It Cosmetics
A New York Appellate Court Rejects a Broad Application of the State’s Green Amendment
Drier Autumns Are Fueling Deadly California Wildfires
Treat Williams, star of Everwood and Hair, dead at 71 after motorcycle crash in Vermont: An actor's actor
U.S. Nuclear Fleet’s Dry Docks Threatened by Storms and Rising Seas