Biden to call in State of the Union for business tax hikes, middle class tax cuts and lower deficits

By JOSH BOAK
Associated Press

WASHINGTON (AP) — President Joe Biden is going into his third State of the Union address with an expanded plan to raise corporate taxes. He would use the proceeds to trim budget deficits and cut taxes for the middle class. The Democratic president in this election year is refining the economic agenda that he’s been pushing since the 2020 presidential race, trying to show that he is addressing voters’ concerns about the cost of living. In a preview of Biden’s remarks, aides said the president would contrast his proposals with Republican plans to extend former President Donald Trump’s expiring tax breaks and further slash corporate tax rates. The president will deliver his remarks starting Thursday at 9 p.m. ET.