Key Points:

  • The Biden Administration unveiled a $2 Trillion infrastructure package on Wednesday.
  • The proposal would be paid for over the next 15 years by raising the corporate tax rate to 28% from 21% and increasing taxes on companies’ foreign earnings.
  • The proposal includes $621 billion to modernize transportation infrastructure, $400 billion to help care for the aging and those with disabilities, $300 billion to boost the manufacturing industry, $213 billion on retrofitting and building affordable housing and $100 billion to expand broadband access, among other investments.
  • The plan goes beyond infrastructure, proposing more than $500 billion to invest in the manufacturing sector, worker training and research and development.
  • The proposal also includes modernizing 20,000 miles of highways and roads, repairing 10,000 bridges, and building a network of 500,000 electric vehicle chargers by 2030.
  • The Right Facts will continue to monitor the Infrastructure Bill.