President Joe Biden is trying to break a logjam with Republicans on how to pay for infrastructure. He’s proposing a 15% minimum tax on corporations and the possibility of revenues from increased IRS enforcement of unpaid taxes. A person familiar with the talks says Biden made the offer to Republican Sen. Shelley Moore Capito of West Virginia on Wednesday as part of an effort to reach a bipartisan compromise. Biden has proposed increasing the corporate tax rate to 28% from 21% to help fund his plans for roads, bridges, electric vehicles and broadband internet. But the rate hike is a nonstarter with Republicans.
