In 2019, the federal government spent $36 billion on its own nondefense infrastructure and $81 billion on state and local infrastructure.
Biden wants to increase spending on government infrastructure and create new subsidies for private infrastructure, such as manufacturing, broadband, electricity, and electric vehicles.
Biden proposes to finance his infrastructure plan by raising corporate income taxes, but that would undermine private infrastructure by suppressing investment.
During the presidential campaign, Biden promised "Construction of an endto‐end high speed rail system that will connect the coasts." His March infrastructure plan includes $80 billion in new subsidies for rail; in contrast, the usual federal rail subsidies are typically less than $3 billion a year.
His campaign statement on infrastructure mentions unions 32 times, and his March infrastructure plan mentions unions 24 times.
His infrastructure plan worries that corporations are "Shifting jobs and profits overseas," and it promises that he will "Position the United States to outcompete China." In comments on March 4, Biden argued, "It makes us a helluva lot more competitive around the world if we have the best infrastructure."
The president's infrastructure plan says "Many entrepreneurs struggled to compete in a system that is so often tilted in favor of large corporations and wealthy individuals. President Biden is calling on Congress to invest $31 billion in programs that give small businesses access to credit, venture capital, and R&D dollars. The proposal includes funding for community‐based small business incubators and innovation hubs." But where do America's entrepreneurs usually get capital? Partly from wealthy individuals, who as angel investors recycle their business profits into scores of new business startups.
https://www.cato.org/policy-report/may/june-2021/bidens-plan-wont-fix-our-infrastructure#
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