NAM: Biden Budget Would Undermine Manufacturers

National Association of Manufacturers President and CEO Jay Timmons has criticized President Joe Biden’s federal budget plan, saying Biden’s proposed tax increases would reverse recent growth in U.S. manufacturing jobs and investment.

The Tax Foundation says the Biden budget would result in more than $4.5 trillion in gross tax increases, including higher marginal tax rates on corporate, individual, and capital gains income. Here’s a look at maximum income tax rates in every state under Biden’s budget. 3/13/2023