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Will Biden’s Proposed Tax Hikes Prevent Companies From Hiring?

As President Joe Biden prepares to push forward with an overhaul of the country’s corporate tax code, a recent survey from Business Roundtable reveals that CEOs are not necessarily on board.

Yesterday, the nonprofit lobbying group — which represents nearly 200 CEOs from American companies, including Apple, 3M and Lowe’s — released the study’s results. Perhaps unsurprisingly, a significant number of the 178 CEOs questioned between March 8-19 believe that increases in U.S. domestic and international tax rates would, per the organization’s press release, “have a negative effect on business expansion, hiring and wage growth, investments in research and development (R&D) and innovation, and U.S. competitiveness in the global economy.”

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