>Also on Monday, Biden said he is “not at all” concerned that a higher corporate tax rate would cause some U.S. companies to relocate overseas. “There’s no evidence to that ... that’s bizarre,” Biden said in response to a question from reporters.
It's not a question of relocating so much as a question of not repatriating profits earned overseas. Whether the question was asked poorly or Biden reframed the question with a BS answer is unknown to me. I think there's a lot of evidence that companies will not repatriate cash if it's going to be taxed more highly than in the country where the profit was made. It's the old question of whether it's better to tax more money at a lower rate or tax less money at a higher rate.
From the Federal Reserve:
"Balance of payments data show that U.S. firms repatriated $777 billion in 2018, roughly 78 percent of the estimated stock as of end-2017 of offshore cash holdings. Repatriation was strongest in the first half of 2018, when $510 billion was brought back, and continued throughout 2018, albeit at a slower pace (figure 1). Despite this slowing down, repatriation flows could remain above their pre-TCJA levels because the TCJA eliminated the tax incentives for keeping profits abroad."
https://news.ycombinator.com/item?id=26703762