BBC News
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image captionPresident Biden s administration has proposed funding infrastructure spending largely through tax increases
US business groups have teamed up to form a coalition opposing tax increase proposals by the Biden administration.
The US government is proposing a global minimum corporation tax rate, as well as increasing the tax in the US to pay for infrastructure projects.
Twenty eight industry groups have now created an alliance called America s Job Creators for a Strong Recovery .
One organiser for the new group said the tax proposals could not come at a worse time .
The alliance has been formed as President Biden is seeking to pass a $2.3tn (£1.7tn) infrastructure package, which would direct billions to initiatives such as charging stations for electric vehicles and eliminating lead water pipes.
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More than two dozen business groups have formed a coalition to fight future tax hikes proposed by Democrats and President Joe Biden, CNBC reported.
The coalition, titled “America’s Job Creators for a Strong Recovery,” is made up of 28 organizations that argue additional tax increases will punish those that create jobs and, therefore, hurt the ongoing economic recovery, according to CNBC. While President Joe Biden’s infrastructure and families plans are popular among Americans, they become less popular when people are told how they will be paid for, organizers said.
“The record tax hikes that Democrats are seeking to ram through could not come at a worse time for America’s job creators who are just beginning to recover from a crippling pandemic,” National Association of Wholesaler-Distributors (NAW) President and CEO Eric Hoplin told CNBC.