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Could Raising Corporate Taxes Help Rebuild U.S. Infrastructure?47:19
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Vehicles drive along the FDR Drive in New York, part of the city's aging infrastructure, Tuesday, April 6, 2021. With an appeal to think big, President Joe Biden is promoting his $2.3 trillion infrastructure plan directly to Americans. Republicans oppose Biden's American Jobs Plan as big taxes, big spending and big government. (AP Photo/Mark Lennihan)
Vehicles drive along the FDR Drive in New York, part of the city's aging infrastructure, Tuesday, April 6, 2021. With an appeal to think big, President Joe Biden is promoting his $2.3 trillion infrastructure plan directly to Americans. Republicans oppose Biden's American Jobs Plan as big taxes, big spending and big government. (AP Photo/Mark Lennihan)

Biden's $2 trillion plan to rebuild the nation’s infrastructure. How does he say he'll get it done? By raising corporate taxes. We discuss corporations, taxation and American infrastructure.

Guests

Pam Olson, assistant secretary for tax policy in the U.S. Department of the Treasury from 2002 to 2004. Former partner at the accounting firm PricewaterhouseCoopers.(@PamelaFOlson)

Jason Furman, professor of economics at the Harvard Kennedy School of Government. Former chairman of the Council of Economic Advisers under President Obama. (@jasonfurman)

Jack Beatty, On Point news analyst. (@JackBeattyNPR)

From The Reading List

Governing: "The Nation’s Infrastructure Report Card Improves Slightly" — "The American Society of Civil Engineers recently released their 2021 Report Card, giving a C- to America’s infrastructure. For the first time in 20 years, the ASCE has found the nation’s roads, bridges, pipes and transmission lines to be out of the D range."

Washington Post: "White House unveils $2 trillion infrastructure and climate plan, setting up giant battle over size and cost of government" — "The White House’s unveiling of a $2 trillion jobs, infrastructure and green energy proposal to reshape the U.S. economy met a chorus of opposition late Wednesday, with Republicans panning it as a partisan wish-list, some liberals challenging it as not sufficient to combat climate change and business groups rejecting its proposed tax hikes."

Wall Street Journal: "Senate Democrats Pitch Their International Corporate Tax Plan" — "Senate Democrats offered proposals Monday to increase the tax burden on U.S. companies’ foreign profits and move the system in the same general direction as the Biden administration’s plan."

Washington Post: "Opinion: What Americans will get from Biden’s $2 trillion infrastructure plan" — "Since President Biden unveiled his $2 trillion infrastructure plan, he and his advisers have been making the case that this 'once in a generation' bill will be 'transformational.'"

Wall Street Journal: "What’s in Biden’s $2 Trillion Corporate Tax Plan" — "President Biden is calling for $2 trillion in corporate tax increases over 15 years to pay for his infrastructure plan. Here are the basics of the revenue-raising side of the plan, which reverses many of the changes from the 2017 tax law written and passed by Republicans."

CNBC: "Business world divided on whether to fight corporate tax hike in Biden’s infrastructure plan" — "The U.S. business community is trying to figure out how to address President Joe Biden’s $2 trillion infrastructure plan, which calls for higher corporate taxes to help pay for it."

New York Times: "No Federal Taxes for Dozens of Big, Profitable Companies" — "Just as the Biden administration is pushing to raise taxes on corporations, a new study finds that at least 55 of America’s largest paid no taxes last year on billions of dollars in profits."

Financial Times: "Janet Yellen calls for global minimum corporate tax" — "Janet Yellen, the US Treasury secretary, has called on other countries to join Washington in setting a global minimum tax for companies as she vowed to reassert America’s leadership in international economic policy."

This program aired on April 7, 2021.

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