BREAKING NEWS – Washington, D.C. – Joe Biden pledges that his administration would reverse the bulk of President Trump’s tax cuts, even though “a lot of you may not like that.”

“I’m going to get rid of the bulk of Trump’s $2 trillion tax cuts, and a lot of you may not like that, but I’m going to close loopholes like capital gains and stepped-up basis,” stated Biden.

The former vice president vowed to raise the corporate tax rate from 21 percent to 28 percent, which he said is projected to raise $1.3 trillion over the next decade. The Trump administration permanently slashed the corporate tax rate from 35 percent to 21 percent with the passage of the 2017 Tax Cuts and Jobs Act.

“A lot of companies hired a lot of people due the tax cuts, well those people that took those newly created jobs, will be back on the streets as quickly as I can get them there,” explained Biden. “This will teach them to disrespect the federal government by abandoning welfare and kicking that agency to the curb!”