“Biden will establish a 28% corporate tax rate, plus a 10% Offshoring Penalty surtax, on profits of any production by a United States company overseas for sales back to the United States.”
Sources (click to view full provenance)
Propose an edit to this promise's details
Suggest a sourced correction to the promise text, topic, scope, significance, or dates. Changing the promise text requires a source. Your suggestion is reviewed before it changes the record.
Free — it takes a minute. New here? Create an account and complete the Contributor Agreement once.
Assessments
evidence-backed verdictsThese are sourced verdicts from fact-checkers or community evidence reviews — not opinions.
Independently verified. As president, Biden authored and repeatedly drove this policy through official channels: Treasury's Made in America Tax Plan, the American Jobs Plan, Build Back Better, and every annual budget FY2022-FY2025 formally proposed raising the corporate rate from 21% to 28% plus the 10% offshoring-penalty surtax (raising the effective rate on covered offshore-for-US-sale profits to 30.8%). That is leading/driving the effort, well beyond a single supporting vote, so CHAMPIONED (+0.75). Congress never enacted the 28% rate or the 10% offshoring surtax; the 2022 Inflation Reduction Act instead created a 15% corporate book-income minimum tax, a different mechanism, so no part of the specific promise was fulfilled (PolitiFact rates it 'Promise Broken'). Adversarial parity check: a same-party-neutral standard (a president pushing a signature tax plan through budgets/major bills that never passed) yields the same CHAMPIONED label, so this is not partisan-lenient; PARTIAL is unwarranted because nothing specific was enacted, and IGNORED/MISALIGNED are wrong because he actively pushed it. Sources confirmed real, live, and supporting.
Your opinion on this assessment(clearly labeled opinion)
Sign in to vote.
Discussion
community opinionsComments are user opinions — not verdicts. They do not affect the official assessment.
Sign in to join the discussion.
Propose a correction
community accountabilitySee an error in the promise text, status, significance, or missing source? Submit a sourced correction — a reviewer will evaluate and apply it if accurate. Your submission must cite evidence; unsourced changes are not accepted.
Sign in or create an account to propose a correction.
Debate
sourced community argumentsThese are sourced community arguments — not StumpWatch assessments. Each cites a source and is community-contributed; it does not change the official status or rating above.
No arguments yet
Be the first to weigh in. Every argument cites a source and is reviewed before it publishes. Create an account to add one and help keep this promise honest.
Add a sourced argument
Cite a source for your point. Submissions are held for reviewer approval before they appear.
Sign in or create an account to add an argument.