Joe Biden proposes $1.3 trillion infrastructure overhaul -- and swipes at Trump for inaction [View all]

[beastie boy]

Joe Biden released a plan Thursday to pile $1.3 trillion into a U.S. infrastructure refresh as part of a push to boost the economy and curb climate change.

The Democratic presidential candidate’s campaign said it would invest in restoring highways, roads and bridges, while trying to spur further adoption of electric vehicles and trains. The former vice president’s plan also calls for replacing water pipes, building out rural broadband access and updating schools, among other measures.

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The Biden campaign said it would pay for “every cent” of the $1.3 trillion plan through tax increases on corporations and the wealthy. It plans to fund the infrastructure overhaul through what it called “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.”

Biden has specifically called for raising the corporate tax rate to 28% from 21%. It stood at 35% before Republicans passed tax cuts in 2017.

https://www.cnbc.com/2019/11/14/joe-biden-releases-infrastructure-plan-and-criticizes-trump.html