News

Politics & Policy

Biden Introduces $1.3 Trillion Infrastructure Plan Funded Entirely By Higher Taxes on Corporations and Wealthy

Louisville Metro Police block Highway 22 after the road collapsed in Louisville, Kentucky April 3, 2015. (John Sommers II /Reuters)

Democratic 2020 candidate Joe Biden rolled out a $1.3 trillion plan to tackle infrastructure on Thursday, promising to pay for “every cent” of the proposal by increasing taxes on corporations and the wealthy.

The former vice president’s plan involves a $1.3 trillion investment over ten years to go toward updating school buildings, improving high-speed broadband access, and repairing highways.

Biden plans to help the U.S. move closer to net-zero greenhouse gas emissions over the same time period by bringing back the full electric-vehicle tax credit to encourage Americans to buy low-carbon vehicles. He also proposed installing 500,000 public charging outlets nationally.

The plan says these measures will revitalize low-income communities and “equip the American middle class to compete and win in the global economy.”

“Every cent of Joe Biden’s $1.3 trillion investment in our nation’s infrastructure will be paid for by making sure the super-wealthy and corporations pay their fair share,” the plan reads.

The funding will take the form of “revenue raised through reversing the excesses of the Trump tax cuts for corporations; reducing incentives for tax havens, evasion, and outsourcing; ensuring corporations pay their fair share; closing other loopholes in our tax code that reward wealth, not work; and ending subsidies for fossil fuels.”

The former vice president also blamed President Trump by name for failing to deliver on his campaign promises to repair the country’s crumbling infrastructure.

Trump “has been promising an infrastructure plan since his earliest days in office and keeps holding ‘Infrastructure Weeks’—but has failed to actually deliver results,” Biden said in the plan. “Instead, Trump has focused on privatizing construction projects to benefit his wealthy friends, leaving communities across the country suffering and our nation falling behind.”

House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer agreed in an April meeting with Trump that the country’s infrastructure, much of which receives a D+ grade from the American Society of Civil Engineers, requires $2 trillion in spending to fix. However, Trump walked out of another meeting the next month, saying Democrats had turned the infrastructure talks into “a little bit of a game.”

Amid bitter partisan fighting, the administration has been unsuccessful in its attempts to convince Congress to pass a major infrastructure plan, frustrating business communities.

Send a tip to the news team at NR.

Most Popular

The Policing Crisis in New York City

On Tuesday afternoon in Manhattan, cops carried out a routine arrest of an 18-year-old New York activist who is suspected of disabling police cameras by spraying paint on them. The person is suspected of this for very good reason: There are videos starring the perpetrator carrying out the act in question. ... Read More

The Policing Crisis in New York City

On Tuesday afternoon in Manhattan, cops carried out a routine arrest of an 18-year-old New York activist who is suspected of disabling police cameras by spraying paint on them. The person is suspected of this for very good reason: There are videos starring the perpetrator carrying out the act in question. ... Read More
U.S.

The Chicago Gun Myth

The tragically incompetent mayor of Chicago, Lori Lightfoot, appeared on CNN’s State of the Union this weekend to deflect attention from the horror show unfolding in her city by blaming interlopers for its spiking murder rate: “We are being inundated with guns from states that have virtually no gun control, ... Read More
U.S.

The Chicago Gun Myth

The tragically incompetent mayor of Chicago, Lori Lightfoot, appeared on CNN’s State of the Union this weekend to deflect attention from the horror show unfolding in her city by blaming interlopers for its spiking murder rate: “We are being inundated with guns from states that have virtually no gun control, ... Read More
Culture

Our Summer of Cultural Suicide

Cultural suicide used to be a popular diagnosis of why things suddenly just quit. Historians such as Oswald Spengler and Arnold Toynbee cited social cannibalism to explain why once-successful states, institutions, and cultures simply died off. Their common explanation was that the arrogance of success ... Read More
Culture

Our Summer of Cultural Suicide

Cultural suicide used to be a popular diagnosis of why things suddenly just quit. Historians such as Oswald Spengler and Arnold Toynbee cited social cannibalism to explain why once-successful states, institutions, and cultures simply died off. Their common explanation was that the arrogance of success ... Read More

Waiting for the Counterrevolution

We are in the midst of a revolution, a cultural and racial one, that seeks to refute the past, damn the present, and hijack the future. So far, however, we have only heard from one side, the revolutionaries and their enablers themselves. Those trying to reject and then reboot America are small as a percentage ... Read More

Waiting for the Counterrevolution

We are in the midst of a revolution, a cultural and racial one, that seeks to refute the past, damn the present, and hijack the future. So far, however, we have only heard from one side, the revolutionaries and their enablers themselves. Those trying to reject and then reboot America are small as a percentage ... Read More