DETROIT (WWJ) -- President Joe Biden on Wednesday highlighted Detroit as a focal point of the country’s turnaround as the world continues to emerge from the COVID-19 pandemic and he continues to push for the U.S. to "Build Back Better."
While Biden touted the recently passed infrastructure plan at General Motors’ new Factory ZERO electric vehicle plant and the company’s vision for full electrification in the near future, the president also pushed for his proposed Build Back Better plan, which could soon get a vote in Congress.
The Biden Administration says the plan will be “fully paid for,” thanks to the repeal of the Trump Administration’s rebate rule and stricter tax rules on the wealthiest of corporations.
“No one in America earning less than $400,000 will pay a single penny more in federal taxes -- no one,” Biden said during a speech at the GM plant Wednesday.
The president said this will be possible by large corporations.
“Guess what -- they ain’t paying enough.”
“Sorry, Mary,” Biden said as he turned to GM CEO Mary Barra.
According to the White House’s website, the largest U.S. corporations in 2019 paid just 8% in taxes, while many “paid nothing at all.” The framework of the Build Back Better plan would impose a 15% minimum tax on the corporate profits that corporations with over $1 billion in profits report to shareholders.
Biden’s remarks came after he took a test drive in a pre-production 1000-horsepower Hummer EV pickup truck, when he took the opportunity to squeal the tires, thanks to the “Watts to Freedom” mode.
The Hummer EVs are expected to be sent to buyers by the end of the year, according to WWJ AutoBeat Reporter Jeff Gilbert.
Biden’s visit to Detroit highlighted the city’s investment in the electrification of the auto world.
He called EVs “masterpieces of modern manufacturing, built by union workers and proof that America has what it takes to win the competition of the 21st century.”
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Biden re-emphasized his support of extra tax credits for union-made electric vehicles.
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