Biden warns corporations like Apple, Disney, and Exxon Mobil that are trying to squash his tax hikes: 'I'm going to take them on'

• After the August jobs report, Biden vowed to fight the corporations trying to squash his tax hikes.
• Corporations like Apple and Disney are lobbying to kill tax hikes to pay for things like childcare.
• Biden originally proposed a 28% corporate-tax hike and taxes on those making over $400,000.

Even after an August jobs report that missed the mark, President Joe Biden was confident his economic agenda was working. And he said it would continue to work, and improve the economy, if his tax hike on corporations went into effect to ensure everyone is paying their fair share.

"It's time for working families, the folks who built this country, to have their taxes cut," Biden said in remarks after the jobs report was released. "And those corporate interests doing everything they can to find allies in Congress to keep that from happening … I'm going to take them on."

When Biden first unveiled his infrastructure plan, he proposed funding it with a corporate-tax hike to 28%, up from 21%. He said at the time he was "sick and tired of ordinary people being fleeced."

While he's since expressed willingness to come down from 28%, he has remained adamant that a corporate-tax hike, and raising individual income taxes on the wealthy, are vital to lifting the middle class.

The Washington Post reported this week that companies like Apple, Disney, and Exxon Mobil were unleashing a massive lobbying effort to squash parts of the Democrats' $3.5 trillion reconciliation bill, which includes corporate-tax hikes. The effort is being organized mainly by the Chamber of Commerce, The Post added.

Biden said during his remarks that "not a single Republican" supported his plan to hike taxes on corporations. Some more moderate Democrats don't support his plan, either. Sen. Joe Manchin of West Virginia, Sen. Kyrsten Sinema of Arizona, and Sen. Mark Warner of Virginia said they would prefer a smaller hike than what Biden proposed.

Another component of Biden's tax plan is raising taxes on those making over $400,000. The president said during his remarks that given that threshold, the middle class would not be affect and the plan would create a fairer tax code for all Americans.

"The superwealthy are still going to be able to have their three homes," he said.

Biden called on Congress to pass the infrastructure and reconciliation bills and set his economic agenda, including tax hikes, in motion, but because Manchin said Democrats should put a "pause" on their social-welfare bill, the timeline for its passage is uncertain.