Biden Says his Plans is Needed to Compete with China

U.S. President Joe Biden opened the door on Wednesday for negotiations about the tax increases necessary to finance his proposed $2.25 plan for developing infrastructure.

However, Biden once again pointed to the competition between the United States and China on the global stage, urging support for what he says are much needed reforms.

Biden wants to make this huge leap in spending without adding additional burden on the national debt by planning to finance it through raising the corporate tax rate to 28% from the 21% rate that was set by his predecessor Donald Trump.

The President of the United States also said that he feels for the middle-income class because he is one of them, responding to opposition from some corporations and business lobbyists.