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Biden Wants to Raise Taxes, Yet Many Trump Tax Cuts Are Here to Stay

During the presidential campaign, Mr. Biden proposed trillions of dollars in tax increases on corporations and the rich, but his plans stopped short of a full repeal of Mr. Trump’s tax law. He said he would raise income taxes to pre-Trump levels only at the top bracket, an increase to 39.6 percent from 37 percent. He called for raising the corporate tax rate to 28 percent from 21 percent, where Mr. Trump set it — still short of the top rate of 35 percent that preceded the law.Even Mr. Biden’s international tax plan, which is meant to encourage domestic investment and job creation …

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How Corporate America Views President Biden

In the waning days of the Trump administration, the schism between big business and the Republican Party burst into the open.While corporate America notched real gains over the last four years, including lower taxes and a looser regulatory environment, President Donald J. Trump routinely upset major chief executives. The Jan. 6 riot at the Capitol and the refusal of Mr. Trump and many congressional Republicans to recognize the election result was the breaking point, culminating in many large companies condemning Mr. Trump and cutting off support for his allies in Congress.But just because big business is at odds with …

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After Riot, Business Leaders Reckon With Their Support for Trump

Big business struck a Faustian bargain with President Trump.When he said something incendiary or flirted with authoritarianism, high-minded chief executives would issue vague, moralizing statements and try to distance themselves from a pro-business president who coveted their approval.But when Mr. Trump cut taxes, rolled back onerous regulations or used them as props for a photo op, they would applaud his leadership and grin for the cameras.After Wednesday’s events on Capitol Hill, the true cost of that balancing act was plain to see, even through the tear gas wafting in the rotunda.The executives who stood by …

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Yellen Would Assume Vast Policy Portfolio as Treasury Secretary

WASHINGTON — Janet L. Yellen’s expected nomination as Treasury secretary will place the former Federal Reserve chair into a critical role overseeing President-elect Joseph R. Biden Jr.’s economic and national security agenda at an agency that has increasingly become a center of power.While Ms. Yellen’s views on monetary policy are well known from her time leading the central bank, her perspective on a range of issues that are part of the Treasury Department’s portfolio is less known.As Treasury secretary, Ms. Yellen will be the Biden administration’s chief economic diplomat and will face the challenge …

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