Joe Biden cracks down on US high earners with major tax increase – ‘I’m sick and tired’

On Wednesday the US President announced tax increases that will target businesses, married couples, high earners on more than $400,000 (£290,000). During an address at the White House, Mr Biden clarified the move was not intended to “punish” certain individuals.

He said: ““I didn’t hear anybody hollering in this recovery, so-called, before I became president, this k-shaped recovery. Where is the outrage there?”

The President added: “I’m not trying to punish anybody but dammit. Maybe because I come from a middle class neighbourhood.

“I’m sick & tired of ordinary people being fleeced.”

He also confirmed his intentions to find compromise with Republicans, but would not accept inaction.

Mr Biden said: “Compromise is inevitable. But here’s what we won’t be open to.

“We will not be open to doing nothing. Inaction simply is not an option.”

The policy change is intended to support his plans for infrastructure, including the construction of new roads and green technology development.

One new green infrastructure policy that the Biden Administration is putting forward is to lease federal offshore territory for wind farms.

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