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“If we put this into a historical context, Biden’s tax plan would be the fifth largest tax increase since the 1940s in the United States,” York said. “We’re talking about a really significant amount of revenue that Biden is proposing to raise.”

“The actual economic burden of the taxes Biden has proposed don’t line up with their objectives. For example, the proposal to increase the corporate income tax rate from 21 percent to 28 percent, while that would be paid by corporations, the economic burden of that can fall on people across the spectrum.

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