President Joe Biden said Wednesday he's open to compromise to reduce his proposed increase in the corporate tax rate, as he seeks to fund his sweeping infrastructure and jobs proposal.

"I'm open to compromising, yes. It doesn't have to be exactly what I say," Biden said at the White House when asked if he would accept raising the corporate tax rate to 25 percent instead of the 28 percent he has proposed.

The president said he has spoken to chief executives about his planned tax increases on corporations, without naming them. But Biden said he would not back down from his demand that his proposed $2.25 trillion package be offset by raising revenue.

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