Biden to ABC's David Muir on raising taxes: 'No new taxes' for anyone making less than $400,000

Everybody should pay “their fair share," Biden said.

“Is it smart to tax businesses while you're trying to recover?” Muir asked.

“It's smart to tax businesses that are in fact making excessive amounts of money and paying no taxes,” Biden told Muir.

“It's how we did it last time,” he said, in reference to the 2008 recession, adding that his work, at the time, with then-President Barack Obama, led to economic recovery, “with the largest, the most consecutive number of months of growth in jobs of any time in history. We did it the right way.”

“Look [at] what he's doing,” Biden continued, criticizing the president. “The money was supposed to go to help small businesses. You have one in six small businesses that have already closed. You're finding a situation that over 60% of the money -- only 40% of money for small businesses went to small businesses.”

When Muir pressed him on whether taxes would be raised on small businesses, Biden emphatically said, “No.”

“There will be no raising taxes” on the “90% of the businesses out there are mom and pop businesses -- that employ less than 50 people,” Biden responded.

“We have to provide them with the ability to reopen. We have to provide more help for them, not less help,” he said.

Muir and "Good Morning America" co-anchor Robin Roberts conducted joint interviews with Harris and Biden -- their first since accepting the Democratic nomination -- which was featured in a special edition of "20/20" called "The Ticket: The First Interview," which aired Sunday on ABC.

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