Current:Home > MarketsBiden heads to his hometown of Scranton, Pennsylvania, to talk about taxes -FundGuru
Biden heads to his hometown of Scranton, Pennsylvania, to talk about taxes
Benjamin Ashford View
Date:2025-04-08 14:18:00
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! (2)
Related
- In ‘Nickel Boys,’ striving for a new way to see
- Hot air balloon pilot safely lands on Vermont highway after mid-flight wind issues: Reports
- Court fights are ramping up over states’ transgender health care restrictions
- Fulton County D.A. subpoenas Raffensperger, ex-investigator for testimony in Meadows' bid to move case
- $73.5M beach replenishment project starts in January at Jersey Shore
- No sign plane crash that likely killed Yevgeny Prigozhin was caused by surface-to-air missile, Pentagon says
- Maine man, 86, convicted of fraud 58 years after stealing dead brother's identity
- Hersha Parady, who played Alice Garvey on 'Little House on the Prairie,' dies at 78: Reports
- Sam Taylor
- Georgia judge sets Oct. 23 trial date for Trump co-defendant Kenneth Chesebro
Ranking
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- Beloved wild horses that roam Theodore Roosevelt National Park may be removed. Many oppose the plan
- U.S. nurse kidnapped in Haiti speaks publicly for first time since her release: I hold no grudges against you
- AI chips, shared trips, and a shorter work week
- Dick Vitale announces he is cancer free: 'Santa Claus came early'
- Good karma: Washington man saves trapped kitten, wins $717,500 from state lottery
- Selena Gomez Celebrates Her Relationship Status in New Song Single Soon
- Body pulled from ocean by Maine lobsterman confirmed to be Tylar Michaud, 18-year-old missing since last month
Recommendation
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
Players credit the NFL and union with doing a better job of teaching when sports betting isn’t OK
Scammers impersonate bank employees to steal nearly $2M from Pennsylvania customers, officials say
Shortage of common antibiotic used to treat kids' infections frustrates parents
Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
Woman allegedly kidnapped by fake Uber driver rescued after slipping note to gas station customer
Oh, We'll Bring These 20 Bring It On Behind-the-Scenes Secrets, Don't Worry
Lahaina was expensive before the fire. Some worry rebuilding will price them out