There is a lot of talk on cable news lately about a "bipartisan" infrastructure plan. The plan would spend about $1 trillion over the next eight years. That's only about half of what President Biden had asked for, and would not do everything he wanted to accomplish. But half is better than nothing, and if the plan was fair then I would support it.
But I can't support it. The Republicans are bragging that the plan doesn't raise taxes. That's not exactly true. What they mean is the plan doesn't raise taxes on corporations or the rich. They don't seem to mind that the plan would raise taxes on working and middle class people.
President Biden had wanted to pay for his infrastructure plan by raising taxes on those making over $400,000 a year slightly, and by raising the corporate income tax to 28%. He later said he would accept raising the corporate tax to only 25%, and even floated the idea of a 15% corporate minimum tax. Those were certainly not onerous tax levels, but the Republicans opposed that. They didn't want corporations or the rich to have to share any of the burden of paying for infrastructure.
Instead, they have suggested some other ways to pay for it. They want to index the gas tax to inflation. That's a fancy way of saying they want to raise the gas tax. They also suggested taxing electric vehicle on the amount of mileage driven. Both of those would raise taxes on working and middle class people, while giving corporations and the rich a free ride.
Wouldn't the corporations be one of the biggest winners in an improved infrastructure? Of course they would. Many corporations would benefit from better broadband internet connections throughout the country, because they do a lot of business over the internet. And all corporations would benefit from better roads, bridges, ports, and airports -- because that would enhance their getting supplies and delivering their products.
We already have a very unfair economy -- with the richest Americans benefitting the most, while workers struggle to keep up. This has caused a huge and growing income/wealth gap between the 1% and the rest of America. Taxing working and middle class people while letting the rich (and their corporations) not pay more will only increase that income/wealth gap even further.
Democrats in Congress should vote against this bipartisan infrastructure plan -- at least until it is paid for in a fairer way.
