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Report: Biden Policies Would Make Tax System ‘More Progressive’ While Cutting Economic Growth

Ben Zeisloft
Report: Biden Policies Would Make Tax System ‘More Progressive’ While Cutting Economic Growth
BRENDAN SMIALOWSKI/AFP via Getty Images

A new report indicates that President Biden’s tax policies would decrease employment, wages, productivity, and long-term economic growth in the United States.

According to findings from the Tax Foundation, the President’s budget for 2022 — which incorporates the American Jobs Plan and American Families Plan — would lead to 60.7% of Americans paying higher taxes while only 29% benefit from tax cuts and credits. 

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