New Biden Tax Plan Cuts Hikes By Almost Half, Analysts Say

Topline

Fresh analysis from the Tax Policy Center says Democratic presidential candidate Joe Biden’s proposed tax hikes have fallen by almost half, thanks to newly introduced tax cuts and incentives geared towards middle-income earners.

Key Facts

Key Background

The Biden campaign has offered over 50 tax plans, many of which took aim at businesses and the affluent, and resembled plans Biden advocated when he served under President Barack Obama, according to Politico. The new plans come on the heels of Republican attacks that Biden plans to raise taxes on Americans across the board.

Chief Critic

President Donald Trump’s reelection campaign released an ad on October 12 saying Biden wanted to raise taxes 14% on middle class families. The ad also claims that  “82% of Americans would pay more…” According to Politifact, both statistics are false.

Further Reading

An Updated Analysis of Former Vice President Biden’s Tax Proposals (The Tax Policy Center)

“Biden’s plan is a 14% tax hike on middle class families.” (Politifact)