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U.S. Treasury’s Yellen says tax hike, infrastructure plan will boost profits

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WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen defended President Joe Biden’s $2.2 trillion infrastructure corporate tax hike plans on Tuesday, telling the U.S. Chamber of Commerce that the proposals will enhance the profitability and competitiveness of American corporations. In remarks prepared for delivery to the business lobby group, she said the “Jobs Plan” infrastructure investments would have a direct payoff to the American people, create jobs and simply “return the corporate tax rate toward historical norms.” “We are confident that the investments and tax proposals in the J…

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