$100 Billion for Broadband Included in Biden's Infrastructure Plan

Katie Ramirez
April 6, 2021

He wants to fund his project by raising the corporate tax rate from 21% to 28%.

Biden's predecessor, former President Donald Trump, and Republican lawmakers cut the corporate rate from 35% to 21% in 2017.

Billed "The American Jobs Plan", Biden's proposal would heavily invest in rebuilding the nation's crumbling infrastructure and shift to greener energy over the next eight years.

Corporate tax hikes included in Biden's $2 trillion infrastructure plan may cause damage to the U.S. economy that could outweigh the benefits provided by the proposal, claims a new study by the Tax Foundation think-tank that was released in late March.

The White House conceded on Monday that Senate Democrats such as Sen.

"And if the vast majority of Americans, Democrats and Republicans, across the country support spending on our country and not allowing us to lose the race globally, then he's going to do that", said Granholm.

But Manchin said at least six or seven other Democrats agreed with him about corporate tax rates, and he stated his opposition to the package.

The President noted that infrastructure has historically been a bipartisan undertaking, but the issue of how to pay for the proposal is where the negotiations on Capitol Hill are likely to get sticky.

Pfizer COVID-19 vaccine shows strong effectiveness after six months
Of the total cases, investigators recorded 850 in the placebo group compared with 77 in the vaccine cohort. The early-stage phase I trial will evaluate the vaccine's safety and ability to create an immune response.

"This will be all part of the discussion", Psaki said, which she characterized as in early stages.

"There will be different ideas for pay-fors, there will be different ideas for tax proposals".

Buttigieg said: "I don't think that in the next 50 years we will witness another time when we have this combination of proven need, bipartisan interest, widespread impatience, and a president who is committed to that". It would increase the rate of a global minimum tax that was included in that legislation and change how it is applied to income that corporations earn in various countries overseas.

Wyden, in a news release, said that the senators tax plan would "not only generate critical revenue to pay for President Biden's infrastructure package", but would also "encourage additional investment in the United States and its workers".

Biden said other countries were investing billions and billions of dollars in infrastructure, and the United States needed to do so to boost its competitiveness.

Joe Biden is taking heat for appearing to lie about some of the funding behind his $2 trillion infrastructure package.

Roy Blunt, the chairman of the Senate Republican Policy Committee, called on Democrats to focus on the traditional pillars of infrastructure, "roads, bridges, ports and airports."- and not Biden's more expansive spending projects to create jobs, fight climate change, and tackle an ever-stronger China.

Blunt, a seasoned member of the Senate leadership team, nevertheless displayed a more conciliatory tone than that of the Republican leader in the Upper House, Mitch McConnell, who days before had promised to fight Biden's plan "at every step".

Other reports by

Discuss This Article