> Biden will propose a 28% corporate tax rate plus a 10% penalty surtax on the profits from any production by a U.S. company overseas for sale on American soil,

> Biden will propose a 28% corporate tax rate plus a 10% penalty surtax on the profits from any production by a U.S. company overseas for sale on American soil, making the overall tax rate on those profits 30.8%. Don't do a percent of a percent. Biden will propose corporate tax rate of 28%, plus an additional 2.8% on profits from any production by a U.S. company overseas for sale on American soil.