Coming Soon: Biden’s Infrastructure Proposal

President Joe Biden next week will travel to Pittsburgh to unveil a multitrillion-dollar infrastructure plan, according to reports. Politico.com wrote “it’s generally described as an infrastructure package, but that’s a bit of a misnomer” since the $3 trillion to $4 trillion plan would attempt to address “several strains of progressive thought” — from redistributive policies and racial equality, to climate change, to a “Made in America manufacturing renaissance as a way to counter China.”

As the federal debt nears $30 trillion, details “are not yet clear” on how the plan would be funded, but President Biden is expecting a range of tax options from Treasury officials to help pay for the plan. The National Association of Manufacturers supports a comprehensive infrastructure plan, but has warned that corporate tax increases would do great harm to America’s competitiveness. 3/24/2021

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