The U.S. Chamber of Commerce is holding a day of action on Tuesday, July 13 to let Congress know that a proposed increase to the corporate tax rate would hurt employers, including 1.4 million small businesses with fewer than 500 employees. Businesses that wish to participate can contact their legislators using this page.
Earlier this year, President Joe Biden revealed a $2 trillion infrastructure plan that would have been paid for in part by raising the corporate tax rate from 21 percent to 28 percent in addition to other tax changes that would affect companies. Since then, Biden has shifted his support to a $1.2 trillion bipartisan infrastructure plan that would reportedly not increase corporate taxes. However, the business community remains concerned that raising corporate taxes will continue to be part of the president’s agenda.