The Tax Cuts and Jobs Act of 2017 ("the Act") reduced the corporate tax rate to a flat rate of 21%. Biden's tax plan includes changes to this rate. Use internet tax resources to address the questions below. Look for reliable websites and blogs of the IRS and other government agencies, media outlets, businesses, tax professionals, academics, think tanks, and/or political outlets. Choose two of the questions below and post your response to the discussion board. Cite or link your sources.

• Explain the specifics of Biden's proposed plan regarding the corporate tax rate.
• What is the likelihood that Biden's proposed changes will come to fruition and when would these changes likely occur? Explain.
• Discuss the potential economic consequences of Biden's proposed changes.