Biden wants to raise taxes for companies for his ‘new contract’

Biden wants to raise taxes for companies for his 'new contract'

President Joe Biden wants to invest $ 2,000 billion in US infrastructure to create millions of jobs. But it still has to go through the US Congress. Republicans are important because Biden wants to raise taxes for businesses to pay for his ambitious plans.

Reporter John Postma says Biden wants America to be competitive again and he has no more trouble spending money. More than $ 600 billion will be spent on upgrading roads, railways, ports and airports, and $ 100 billion on expanding broadband internet, even in areas that do not yet have good internet connectivity. It will also create 180 billion clean energy and 170 billion jobs in the electric car industry. ‘

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In the coming years, 500,000 charging points will be installed, Postma says, because American petrol heads and their ‘gas-gasking SUVs’ must be electric. The ultimate goal is a combination of a highly competitive economy, better infrastructure and more employment. “It’s like Franklin Delano Roosevelt with his new contract. He wanted to help people find work with a few big projects and get America out of depression.”

Find each other

At Pitton, it is unclear how many jobs will eventually be involved, Postma says. That is not surprising, since it largely depends on the support of Democrats and Republicans. ‘This is really something they can find in each other: they can both find holes in the road. But the problem lies in funding: Biden wants to pay for it by throwing corporate taxes in contrast to Trump’s cut. ‘

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It is against the sore leg of many Republicans. Republican Senate President Mitch McConnell has already called the plans extreme left and “a Trojan horse, an excuse to raise taxes.” ‘So it’s not complete yet, and then many Democrats think Biden isn’t good enough. So you know Python still has a game of chess. ‘

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About the Author: Halbert Geis

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