Sen. Bernard Sanders said Sunday that corporate taxes would “absolutely” go back up if Democrats retake the Senate in 2018.
“I think we’re going to take a very hard look at this entire tax bill and make it a tax bill that works for the middle class and working families, not for the top 1 percent and large multinational corporations,” the Vermont independent said on CBS’ “Face the Nation.”
Asked if that would mean raising the federal corporate tax rate, which would drop from 35 to 21 percent under the Republican tax-reform plan expected to pass Congress this week, Mr. Sanders said, “In my view, absolutely.”
Republicans have touted the reduction as a way to stimulate the economy and repatriate companies that have moved overseas in order to avoid the U.S. corporate tax, the highest among the world’s major economies.
Including average state and local taxes, the corporate tax rate can reach 38.9 percent.
Republicans will cling to a one-vote majority in the Senate entering the 2018 midterm elections after Tuesday’s victory by Democrat Doug Jones in Alabama, which swung the seat from Republican to Democrat in the deep-red state.
Mr. Sanders, an independent who ran unsuccessfully for the Democratic presidential nomination in 2016, caucuses with the Democrats.