President Joe Biden on Thursday backed away from pledged tax increases to fund planned infrastructure and social spending, and also said he was open to reforming Senate voting rights by "fundamentally altering" its filibuster custom.
In a wide-ranging CNN town hall in Baltimore, Biden said he was close to striking a deal to pass major spending measures after weeks of intraparty bickering among his fellow Democrats.
However, he said that raising corporate tax rates, one of his most oft-cited promises, was unlikely to be part of the legislation. A separate minimum corporate tax proposal could fund the social programs that are at the heart of his domestic agenda, Biden said.
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