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White House proposes raising corporate tax rate to 28% from 21% - YouTube
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there breaking tonight president biden
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is promoting what appears to be the
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latest plank in a massive
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tax and spend platform a 2.3 trillion
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dollar
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infrastructure plan the president
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unveiled the broad strokes of the
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proposal a short time ago at an event in
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pittsburgh
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calling it a once in a generation
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investment
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the plan comes on the heels of a two
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trillion dollar coronavirus relief
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package
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and speculation on just how president
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biden plans to pay
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for all of it white house correspondent
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peter ducey starts us off tonight
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live from pittsburgh good evening peter
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good evening brett the president is
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referring to this plan as being as
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ambitious and transformational as the
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interstate highway system
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or the space race and it comes with a
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higher price tag than any government
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spending proposal
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ever plus the biggest tax hike
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in decades it's not a plan that tinkers
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around the edges
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it's a once in a generation investment
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in america
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the headlines of the infrastructure
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section of the biden infrastructure plan
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115 billion dollars to modernize roads
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and bridges
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most in need of repair 111 billion to
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replace all
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lead pipes and 213 billion to build or
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retrofit
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2 million affordable sustainable houses
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it's about infrastructure
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to pay for it the white house wants to
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raise the corporate tax rate 228 percent
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from 21 and
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raise the global minimum tax to 21
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percent from 13.
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this has been an administration of the
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government by the government for the
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government
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the only thing it appears they're in
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favor of is more government spending
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more taxes
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and more government power over your
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lives the chamber of commerce argues
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against
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new taxes with this properly done a
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major investment in infrastructure today
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is an investment in the future and
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like a new home should be paid for over
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time say 30 years
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by the users who benefit from the
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investment i am concerned
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about the level of our national debt
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we've reached a critical point here
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but this infrastructure bill is more of
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a spending bill because
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it's not just about infrastructure the
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american jobs plan will lead
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to a transformational progress in our
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efforts to tackle climate change
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the white house wants 174 billion
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dollars to
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win the electric vehicle market 16
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billion dollars to plug oil wells and
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clean abandoned mines and 10 billion
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dollars
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to create a civilian climate corps the
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president is also calling for
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100 billion dollars for racial and
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gender equity in the job market
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addressing infrastructure climate and
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environmental justice together
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and creating millions of good paying
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jobs is just the right combination
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these proposals are alarming to leaders
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in fossil fuel producing states like
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north dakota
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the united states finally got ourselves
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in a position where we geopolitically
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where we could
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sell energy to our friends and allies
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versus buy it from our enemies
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and now with this administration we
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appear to be reversing course on that
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but the president is trying to live up
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to his campaign promise to be the most
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progressive ever it's big yes
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it's bold yes and we can get it done
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and there's actually two parts this was
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just
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the american jobs plan the president
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says in the next few weeks he will
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unveil
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the american family plan which is
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expected to be loaded with social
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programs but is guaranteed to cost
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more taxpayer money because it does not
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count towards today's multi-trillion
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dollar
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price tag or tax hikes right
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you know peter today the president said
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he wants to reach out to republicans he
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wants to have republicans in the oval
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office
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but it was not clear whether he had
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talked
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to the senate minority leader mitch
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mcconnell do we know
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and i'm just looking at my phone to
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because i've been
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trying to get clarity from the white
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house but the president said today that
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he has spoken to mitch mcconnell about
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this plan it's just not clear
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whether or not that was during the
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transition when we know they talked or
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after swearing in
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when our last update was that they had
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not had any kind of a meaningful
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conversation post-inauguration
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right okay peter thank you come
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