President Biden unveiled a more than $2 trillion infrastructure and economic recovery package on Wednesday. The plan outlined Wednesday includes roughly $2 trillion in spending over eight years and would raise the corporate tax rate to 28% to fund it. The plan aims to revitalize U.S. transportation infrastructure, water systems, broadband and manufacturing. The USA ranks 13th in the world when it comes to the overall quality of our infrastructure. The coronavirus destroyed millions of American jobs and exposed that we neglected our country and infrastructure. Too many people do not have access to high-speed internet, and excellent housing.
The time is now to rebuild, and the plan devotes more than $600 billion to rebuilding America’s infrastructure, such as its ports, railways, bridges, and highways; about $300 billion to support domestic manufacturing; and more than $200 billion in housing infrastructure. Other actions include at least $100 billion for a variety of priorities, including creating a national broadband system, modernizing the electric power grid, put more than $300 billion into building and retrofitting affordable housing, along with constructing and upgrading schools and educational facilities, investing in research and development projects, and ensuring America’s drinking water is safe.
President Biden’s plan includes raising the corporate tax rate from 21 percent to 28 percent; increasing the global minimum tax paid from about 13 percent to 21 percent; ending federal tax breaks for certain companies and ramping up tax enforcement against corporations, among other measures. Instead of Republicans reading the plan and offering up suggestions. Money making Mitch McConnell has said: “I’m going to fight them every step of the way”. Rep. Kevin Brady of Texas said it’s a “Sugar High.”
Now we with the recent the Senate Parliamentarian ruling advising that a revised budget resolution may contain budget reconciliation instructions. This is GREAT NEWS… What this means is that instead of needing 60 votes or the dreaded filibuster being use, Leader Schumer needs only 50 votes to pass.
CBTU we need to stand with President Biden and support the Infrastructure. This bill is for us…This bill is for union workers, black union workers, black businesses, and black children. We must call all our Congressional members and tell them to support the Bill. Call and email all our senators and tell them to support the bill.
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