President Biden wants the wealthiest Americans to pay "their fair share" when it comes to taxes.
"I will not impose any tax increase on people making less than $400,000. But it's time for corporate America and the wealthiest 1% of Americans to begin to pay their fair share. Just their fair share," Biden said during his first joint address to Congress.
More context: Biden has said he is already working to make permanent several major, albeit temporary, tax breaks for low-income and middle class Americans, that were part of the stimulus. These include expansions of the child tax credit and earned income tax credit, as well as more generous Affordable Care Act premium subsidies.
Much of Biden's plan rests on reversing the Republicans' 2017 tax cuts, which were more heavily weighted to those at the upper end of the income ladder, though many key provisions will expire after 2025.
In March, White House press secretary Jen Psaki said Biden believes that "those at the top are not doing their part" and "obviously that corporations could be paying higher taxes."