Cassidy defends 2017 tax cuts targeted by Biden, pointing to wage growth among low earners

Sen. Bill Cassidy, R-La., on Sunday defended the Trump-era tax cuts that are being targeted by President Biden in his American Jobs Plan, pointing to wage growth among low-income earners.

Cassidy noted that Wallace's framing of the question sounded like Biden's speech to Congress and said the Biden administration wants to return the economy to the days before there was "high employment for African-Americans, veterans, women, Hispanics, the disabled, [and] high school dropouts with wage growth disproportionally in the lower quintiles of the income structure." "That was all part of the Tax Cut and Jobs Act bill," Cassidy said. "You can't separate them, and so if you want to say, 'My gosh, these people are making more money. Why don't we return and keep the Tax Cut and Jobs Act?' That's the flip side of the question you're asking, and I think that flip side is the part that should be emphasized." Biden's $2.3 trillion spending plan unveiled early last month would raise the corporate tax rate from 21% to 28%, reversing a key part of the 2017 tax law passed by Republicans.