Biden’s $2 Trillion Corporate Tax Plan Tears Up Republicans’ 2017 Blueprint - WSJ

President Biden’s corporate tax plan would tear down much of the structure that Republicans built in their tax law less than four years ago, driving up rates on large U.S.-based companies and raising taxes on their foreign profits.

Those tax cuts were passed using the same 50-vote needed budget reconciliation process that was just used for the spending bonanza and is eyed for use again.

The legislative process is most brittle when it’s purely partisan.

The Republicans’ 2017 law sought to lighten the U.S. corporate tax burden to make it similar to other countries’ systems. By contrast, the Biden plan hinges in part on the Democratic administration’s ability to get other countries to impose similar tax regimes so that a U.S. corporate headquarters doesn’t become a significant competitive disadvantage.

Isn’t dreaming fun?