WELL, GOOD: Biden Wants to Raise Taxes, Yet Many Trump Tax Cuts Are Here to Stay.

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New York Times, Biden Wants to Raise Taxes, Yet Many Trump Tax Cuts Are Here to Stay:

Donald J. Trump has left the White House. But many of his signature tax cuts aren’t going anywhere.

Democrats have spent years promising to repeal the 2017 Tax Cuts and Jobs Act, which Republicans passed without a single Democratic vote and was estimated to cost nearly $2 trillion over a decade. President Biden said during a presidential debate in September that he was “going to eliminate the Trump tax cuts.”

Mr. Biden is now in the White House, and his party controls both chambers of Congress. Yet he and his aides are committing to only a partial rollback of the law, with their focus on provisions that help corporations and the very rich. It’s a position that Mr. Biden held throughout the campaign, and that he clarified in the September debate by promising to only partly repeal a corporate rate cut.

taxprof.typepad.com/taxprof_blog/2021/01/ny-times-biden-wants-to-raise-taxes-yet-many-trump-tax-cuts-are-here-to-stay.html

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