Biden Admin Unveils Corporate Tax Hikes, to Fund Infrastructure Plan.br The plan seeks to raise br $2.5 trillion over the course of 15 years.br In order to achieve this, br sweeping changes to the corporate br tax code would be enacted.br and the corporate tax rate would be raisedbr from 21 percent to 28 percent.br Part of the changes would be made in br order to close loopholes in the tax code ...br ... that have been exploited by br major American companies, often allowing br them to pay zero taxes in a given year.br Prior to the Trump administration, br the corporate tax rate was 35 percent.br Corporate reaction to the plan has been mixed, br with some business community members claiming br that it "threatens to subject the U.S. to br a major competitive disadvantage.".br The co-founder of Lyft, br John Zimmer, had br a different opinion br about the tax plan.