Biden cited a report that found 55 of the country's largest corporations made $40 billion in profit but paid zero federal corporate income taxes in 2020. He claimed that his 15% corporate minimum tax law ensures that big companies have to pay a minimum of 15%. However, his claim that big companies will no longer pay zero federal income taxes is false. The minimum tax only applies to companies with at least $1 billion in average annual income, and not all of the companies on the list of 55 non-payers meet this criteria. While the minimum tax will reduce the number of big companies that don't pay any federal taxes, some large and profitable corporations will still not pay federal income tax.
Biden claimed that violent crime has fallen to one of its lowest levels in "more than 50 years." Based on preliminary 2023 data from the FBI, violent crime was down 8.2% compared to the same period in 2022. If the decline in reported violent crime for the full year of 2023 exceeds 1.6%, it would be the lowest violent crime rate since 1970. However, it is important to note that the reasons for the decrease in crime are difficult to pinpoint, as there are various factors at play. The impact of the president on crime rates is unclear.
