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Head of the National Economic Council: IRA won’t raise taxes ‘on anybody making less than $400,000’

As President Biden prepares to sign the Inflation Reduction Act into law, Director of the White House National Economic Council Brian Deese joins Andrea Mitchell to tout the immediate economic benefits the bill will bring and correct misinformation that the corporate tax increase will hit middle class Americans. “In terms of the immediate impact this fall, there'll be 13 million Americans who will see lower healthcare premiums as a result of this bill,” says Deese. He adds, “We will for the first time, have a corporate minimum tax and make sure that companies have to pay 15% of their income, and the income that they report to Wall Street investors, in tax.” He says that this bill will end “the days when companies can say that they've made large profits but then end up paying nothing in tax because of complicated accounting rules.” Deese emphasizes, “We're doing all of that without raising taxes at all on anybody making less than $400,000 a year.”

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