Democrats in the Ways and Means Committee are trying to raise taxes on people and businesses. The Ways and Means Committee is in the House of Representatives, and it decides taxes and tax policies. It may be confused with the IRS, which is responsible for collecting everyone’s taxes. The committee may change corporation taxes from 21% to 26.75%. This new tax change could fund the Democrats $3.5 trillion bill that they are trying to pass. Not a single Republican in Congress supports the bill. When Trump was president, he lowered the tax rate from 35%. Democrats’ new proposal won’t increase the tax back to 35%, but it will still be a step closer to 35%.
