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Biden Targets Big Business and Billionaires

President Biden sought to reinvigorate his re-election campaign, delivering an animated and mostly gaffe-free State of the Union address that put the economy and business front and center.

In the prime-time slot, he pitched Bidenomics as delivering for Americans, and outlined a policy wish list that may appeal to progressive voters and some in his party but which could also put him at loggerheads with big corporations.

Heading into a November rematch with Donald Trump, Biden sought to frame the presidential race in stark terms for the democracy while holding business to account.

Among the areas that could rankle business leaders: a call to raise the minimum tax on multinationals to 21 percent. This move would seem to target pharmaceutical companies in particular. He also singled out “Big Oil, private jets, and massive executive pay” in his speech as areas ripe for boosting tax revenue.


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