Search ForexCrunch

“China is counting on American democracy to be too slow, too limited, too divided to keep pace,” US President Joe Biden said while delivering his remarks on the American Jobs Plan, per Reuters.

Additional takeaways

“We  will not impose any tax increases on people making less than $400,000 a year.”

“Corporate tax proposal of 28% is not fleecing them.”

“Sick and tired of ordinary people being fleeced.”

“Willing to listen to a proposal for lower than 28% corporate tax rate.”

Market reaction

These remarks don’t seem to be having a significant impact on market sentiment. As of writing, the S&P 500 Index was up 0.12% on the day at 4,079.