The Biden administration unveiled a $2T infrastructure plan today. The sweeping proposal (called the “American Jobs Plan”) calls for investment in a wide range of infrastructure projects, including highways, bridges, transit, and broadband. According to the fact sheet released this morning (source), the plan would be funded in part by a proposed increase in the corporate tax rate from 21% to 28%.
More context: The proposal is reportedly one of several upcoming infrastructure-related plans, and is expected to be followed in the coming weeks by proposals related to child care, family tax credits, and other domestic programs.
Extra: President Biden is expected to deliver remarks on the proposal later today, and Congress is expected to review the plan and subsequent legislation in the coming months.
The New Paper
This story is from the March 31, 2021 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.
