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Biden to call in State of the Union for business tax hikes, middle class tax cuts and lower deficits
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FILE - People walk outside the U.S Capitol building in Washington, June 9, 2022. President Joe Biden goes into Thursday's State of the Union address with an expanded plan to raise corporate taxes. He would use the proceeds to trim budget deficits and cut taxes for the middle class. - photo by AP Photo/Patrick Semansky, File
WASHINGTON (AP) — President Joe Biden is going into Thursday's State of the Union address with an expanded plan to raise corporate taxes and use the proceeds to trim budget deficits and cut taxes for the middle class. The Democratic president in this election year is refining the economic agenda that he’s been pushing since the 2020 presidential race, trying to show that he is addressing voters’ concerns about the cost of living. With Republican control of the House, Biden’s agenda is unlikely to become law and serves as something of a sales pitch to voters.