The surtax would apply to the profit that companies reap from U.S. sales of products or services rendered abroad instead of domestically. It would result in a 30.8 percent tax rate on such profit, Biden’s campaign said.
The move marked Biden’s latest attempt to appeal to working-class voters in the Upper Midwest, where Hillary Clinton suffered stunning losses four years ago that handed the presidency to Trump. The plans come on top of Biden’s previously released “Build Back Better” economic blueprint, which was designed to counter Trump’s “America First” agenda.
“He now hopes we won’t notice what he said, or won’t remember,” Biden said of Trump in a scathing speech that accused the president of not living up to the promises he made to protect workers and their jobs. “He’s failed our economy and our country.”
Biden’s remarks were part of an angry rebuke to Trump on issues including the