Analysis: Bumpy road ahead for Biden’s infrastructure plan
3 years, 8 months ago

Analysis: Bumpy road ahead for Biden’s infrastructure plan

Associated Press  

Infrastructure was a road to nowhere for former presidents Donald Trump and Barack Obama. Biden’s $2.3 trillion infrastructure package, released Wednesday, would go well beyond the usual commitments to roads and bridges to touch almost every part of the country. Biden’s proposal would gut the core of Trump’s 2017 tax cuts — an affront to many Republican lawmakers, who would also prefer that infrastructure stay in a narrow lane. The corporate tax rate would jump to 28% from 21% under Biden’s plan, and a global minimum tax would be charged to prevent companies from avoiding taxes. “It’s the first time that I see a comprehensive plan that truly can have a fundamental change in American productivity,” said Sadek Wahba, founder of the infrastructure investment firm I Squared Capital.

History of this topic

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