Photo showing partial collapse of Interstate 35W bridge in Minneapolis in 2007
"America’s corporate tax system has long been broken, so too has been the way we think about corporate taxation: tax reform is not a zero-sum game, with corporations on one side and government on the other into the economy. There are policies that are mutually beneficial. Win-win is a very overused phrase, but we have a real one in front of us now,”
The Treasury secretary and former Fed chair stressed that the revenue generated from the corporate tax increases would be “turned into funding to both traditional infrastructure, and the more modern kind needed to run a digital economy, like high-speed broadband networks”.
Within four years, the plan would boost US economic output by about 1.6 per cent, she added. So what's not to love? Well, the ever obstructionist Repukes don't want the corps to have to pay more in taxes. Never mind it is simply reverting to the same rate they paid (28%) before Trump got shoehorned into power and took it down to 21%.
Will the GOP get on board? Or will its miserly minions once again try to lowball spending thresholds and leave half or more of U.S. infrastructure needs - including broadband access for their own rural voters- unfulfilled. We will see.
Biden, Yellen and the war on leprechauns