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Business Matters: Democrats unveil plans to raise US taxes

Democrats unveil plans to raise US taxes

14/09/2021 GMT

BBC World Service - Business Matters, Democrats unveil plans to raise US taxes

Leading Democrats plan to roll-back former President Donald Trump's tax cuts

Leading Democrats in the U.S. House of Representatives have outlined plans for a substantial roll-back of former President Donald Trump's tax cuts, including raising the top tax rate on corporations to 26.5% from 21%. Democrats on the powerful House Ways and Means Committee will debate legislation this week that would achieve the changes as part of their broader, $3.5 trillion domestic investment plan. James Politi, the Washington bureau chief for the Financial Times Newspaper, explains the political strategy by the Biden administration.

China's clampdown on technology companies is targeting the country's largest digital payment platform Alipay, which serves more than a billion users. 

Beijing is also expected to force Alipay's parent, Ant, founded by the billionaire Jack Ma, to hand over the user data on which it relies for making its loans.  Isabel Hilton, the founder of China Dialogue and an expert on the country with Lao Institute at Kings College, gives us her analysis.

The retail giant Walmart has been the victim of fake news, after a false story was reported about it doing a deal for customers to use the digital currency Litecoin. We hear how the company's shares were affected and how the fake story was spread.

Throughout the programme we also get the views of Alexis Goldstein, an activist and financial reform advocate in Washington DC and Shuli Ren, an opinion writer with Bloomberg in Hong Kong.

(Picture: US Capitol Building. Getty Images.)

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