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By Marshall Tirrell | PinalCentral
President Joe Biden’s proposed $2.3 trillion plan to upgrade America’s eroding infrastructure promises to give the country a sweeping makeover and put millions to work with good-paying jobs, while sustaining our long-term economy.
Calling it a “once-in-a-generation” opportunity, Biden said the infrastructure bill will modernize more than 20,000 miles of freeways, roads and bridges and make improvements to mass transit, ports, rail systems, airports and electric vehicle charging stations. There’s also money for health care for the elderly, replacement of pipes and lines for cleaner drinking water and high-speed broadband.
The commander in chief plans on raising the necessary funds over a 15-year period by increasing corporate taxes.
Upon first blush, many Americans are praising the idea as a bold and innovative plan because citizens like the idea that “the other guy” – namely faceless corporations and wealthy individuals – will be footing the bill.
But is that actually true?
ASU News asked Jenny Brown and David Kenchington, both professors and accountants in Arizona State University’s W. P. Carey School of Business, to offer their insight to help unpack the tax for us.