How to Pay for Infrastructure: Corporate Tax Changes

By: Mindy Herzfeld

With the success of its first big legislative initiative, the American Rescue Plan Act of 2021 (P.L. 117-2), the Biden administration has moved on to the next item on its agenda: infrastructure. Long discussed but highly elusive, the need for additional spending on the country’s infrastructure has broad bipartisan support. The problem is how to pay for a measure that’s expected to cost more than $2 trillion. The first of a series on various alternatives for funding infrastructure, this article considers how corporate tax increases might be used. Imposing more taxes on profitable corporations was high on President Biden’s campaign list, which included ways to both reverse and fix some of the legislative changes enacted by the Tax Cuts and Jobs Act. Progressive Democrats also have made higher taxes on corporations a key part of their platform.

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By Mindy Herzfeld, posted on Monday March 29, 2021

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