I'm Brian Lerer. This is my daily politics podcast from WNYC Studios. It's Tuesday, April 6th.

If you pay attention to national news, especially about money, you probably know that Treasury Secretary Janet Yellen yesterday

introduced the Biden administration plan for a global minimum corporate tax. Yellen and Biden are

trying to end the age-old game of U.S. corporations pretending they lived, oh, somewhere in the Caribbean

or maybe in Ireland or somewhere else because those countries

drop their corporate tax rates so low to attract those businesses. A global minimum corporate

tax is in the headlines today. And if you consume national news, especially about money,

you probably know that West Virginia Democratic Senator Joe Manchin

says he won't vote for any of the tax hikes on corporations or wealthy individuals in the Biden

infrastructure bill unless Biden goes a little easier on corporations. Under President Trump,

if you don't know this history, the corporate tax got lowered from 35% to 21%.

Biden wants to split the difference and raise it back up halfway to 28%.

Manchin wants to split that difference and only raise it to 25.

Manchin says he's worried about jobs, but more progressive Democrats wonder why

he's protecting wealthy corporations. You know this if you're following national news.

But if you follow New York and New Jersey local news, here's the Biden Infrastructure Bill

taxation story. Three House Democrats from our area are threatening to vote no

on the infrastructure plan unless it repeals what's known as the Salt Deduction Cap. The cap is another

artifact of Trump. To explain it simply, for those of you who don't know about it, salt is an

acronym for state and local taxes.

It used to be that you could deduct all the state and local tax you pay from your federal income taxes.

But under Trump, that deduction got capped at $10,000.

...