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.