Biden: First Thing I Would Do As President Is Eliminate The Presidents Tax Cut."

(Americans For Tax Reform) Joe Biden said Monday that the first thing hed do as president is eliminate" the Tax Cuts and Jobs Act: First thing I would do as president is eliminate the presidents tax cut" Biden said during the Poor Peoples Forum in Washington D.C. on Monday. Bidens promise to repeal the tax cuts is a promise to raise taxes. If the tax cuts were repealed: A family of four earning the median income of $73000 would see a $2000 tax increase. A single parent (with one child) making $41000 would see a $1300 tax increase. Millions of low and middle-income households would be stuck paying the Obamacare individual mandate tax. Utility bills would go up in all 50 states as a direct result of the corporate income tax increase. Small employers will face a tax increase due to the repeal of the 20 deduction for small business income.