Biden to pay for infrastructure plan with corporate taxes

Jen Psaki, the White House press secretary, told reporters on Tuesday that the plan Mr Biden was to detail on Wednesday was to “ make an investment in America – not just modernize our roads, railways or our bridges, but also to build the infrastructure of the future. It is therefore certainly infrastructure, ready-to-use projects. Here are some of these questions: How to expand broadband access? In part, this helps ensure that we are meeting needs in homes and communities. “

Ms Psaki also suggested Mr Biden is not stuck on his preferred tax plans to fund the measure.

“People can have different ideas on how to pay,” she says. “We are open to hearing them. So I hope people will come up with ideas. “

A leading lobbying group in Washington, the United States Chamber of Commerce, praised the apparent flexibility and ambition of Mr Biden’s physical infrastructure projects – even as officials continued to warn that Mr Biden’s corporate tax increases could reduce the chances of bipartisan cooperation. .

“Raising taxes on corporations, and others, is kind of a no-starter for Republicans. It’s kind of a no-starter for us too, ”said Ed Mortimer, the chamber’s vice president of transportation and infrastructure. But he said: “We think the administration has opened the door for other ideas to consider. It is a legislative process. Not everything the president exposes will be the final bill.

Mr Mortimer said the scope of Mr Biden’s spending proposals appears to be “in line with what we need to do not only to fix our physical infrastructure, but also to encourage innovation, to bring clean energy online.” The numbers we are talking about are high, no doubt, but they correspond to the needs.

Many Democrats want Mr Biden to spend even more or reduce taxes for some residents of high-tax states as part of his plans. On Tuesday, Democrats in both chambers continued to launch calls in the White House for specific policy initiatives to be included in the legislative package, including multiple letters outlining requests for investment in housing initiatives and home care and community.