Tax Increases to Outweigh Benefits of Biden Infrastructure Plan, Warn ExpertsEpoch Times, United States politics | The Epoch Times

WASHINGTON—President Joe Biden unveiled his ambitious infrastructure package, which proposes substantial tax increases on U.S. corporations to pay for the $2 trillion price tag. Experts say, the economic harm from an increase in corporate taxes, however, will offset the benefits created by the infrastructure investment, raising skepticism about the plan. Biden described his proposal as “the largest American jobs investment since World War II” in a speech in Pittsburgh on March 31. By spending on infrastructure, Biden pledges to create millions of well-paying jobs, expand the economy, and make the United States more competitive vis-a-vis China. The eight-year, $2 trillion infrastructure plan will be fully paid for by tax increases on U.S. companies spread out over 15 years. Increasing the federal corporate tax rate from 21 percent to 28 percent is one of the several ways proposed in Biden’s infrastructure plan. Studies, including ones conducted by the Congressional Budget Office (CBO), …Read More

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