New infrastructure bill and increased taxes for businesses on the horizon

The+President+has+supposedly+been+working+with+lawmakers+for+several+months+on+this+singular+bill.+Hopefully+it+will+result+in+the+economic+prosperity+that+he+believes+it+will.%0A%0A

The President has supposedly been working with lawmakers for several months on this singular bill. Hopefully it will result in the economic prosperity that he believes it will.

Jacob Reiter, Staff Writer

Over the past weeks President Biden has been working with Congress to make an infrastructure bill that would improve power grids as well as roads and bridges. This bill would cost $2.25 trillion and would increase the national debt of the US even further beyond what it is currently. The President has made several addresses to Republicans as of late urging them to support the bill so that it may be put into effect as soon as possible. By passing the bill into law and using the $2.25 trillion, he claims it will support Americans who have lost their jobs or are financially struggling due to the pandemic and that furthermore, it will allow the US to better compete with China. This will be accomplished by using part of the money as another stimulus check and it would improve upon existing infrastructure and create new infrastructure, which will create more jobs. Additionally, President Biden has discussed with Republicans and other Democrats on adjusting the corporate tax rate. The corporate tax rate is a flat tax that the Government takes from the income of large corporations. Some Democrats want to raise the rate to 28% while some Republicans want it to stay at the current 21%. With these views in mind the President’s current plan is to raise it to 25%. Overall the President and the current administration are planning on moving an extremely large amount of money and we can only hope that this benefits the most amount of people possible.