Plans to increase corporate tax rate included in proposal.
This week, President Biden announced his administration’s target budget for the 2022 fiscal year. At $6 trillion it would be the largest budget for the country since World War II. The goal of the budget is to inject capital into average Americans’ pockets while placing tax increases on corporations to the level they were before the headline tax cuts of Donald Trump’s presidency.
The president pitched his economic goals on Thursday in Cleveland, Ohio, saying, “Now is the time to build the foundation that we’ve laid to make bold investments in our families and our communities and our nation. We know from history that these kinds of investments raise both the floor and the ceiling over the economy for everybody.”
As the Lord Leads, Pray with Us…
- For discernment for members of Congress as they evaluate the financial future of the country.
- For the president to seek God’s guidance regarding economic recovery for the nation.
- For the nation’s government to steward the resources God has entrusted to it.
Sources: The Hill, AP, Fox Business
