White House turns Trump Organization indictments into call for tax reform
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Indictments against the Trump Organization and its Chief Financial Officer Allen Weisselberg are another reason why wealthy people should pay their "fair share," the White House said Thursday.
President Joe Biden considers that "it's long past time" for taxpayers earning more than $400,000 to shell out more, which is why he has announced a number of initiatives cracking down on tax evasion by people and corporations, White House spokeswoman Karine Jean-Pierre told reporters on Thursday.
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"In general, the president believes that the wealthiest among us should pay their fair share, and we see that in policies and legislation that he's put forward," she said en route to Florida for Biden's visit to Surfside after the condominium collapse.
Jean-Pierre referred to Biden's economic policy, particularly his $2.3 trillion infrastructure plan and $1.8 trillion social welfare package. But for specific comment on the indictments, she pointed reporters to "the parties involved."
Weisselberg surrendered to the Manhattan district attorney's office Thursday morning after a grand jury returned sealed indictments charging him and former President Donald Trump's company with tax crimes.
The indictments, the first emanating from the two-year investigation into Trump and his business dealings, are expected to be unsealed Thursday afternoon in court during Weisselberg's arraignment. There, Weisselberg is anticipated to plead not guilty, according to his lawyers.
Trump has not been charged in the proceedings. But the allegations, which reportedly involve Weisselberg and other employees evading taxes on fringe benefits they received from the Trump Organization, such as cars, apartments, and private school tuition, increase pressure on him to flip on his longtime boss.
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One of Biden's proposals is a $40 billion investment in the Internal Revenue Service to boost tax compliance. He also wants to hike the corporate tax rate up to at least 25% and the top marginal federal income tax rate to 39.6%.
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Tags: News, Biden, Biden Administration, Joe Biden, White House, Trump Organization, Allen Weisselberg, Donald Trump, Karine Jean-Pierre
Original Author: Naomi Lim
Original Location: White House turns Trump Organization indictments into call for tax reform
