The Biden White House is amplifying the push for its $2.3 trillion infrastructure package with the release of state-by-state breakdowns that show the dire shape of roads, bridges, the power grid and housing affordability.
The state has an estimated $3 billion in federal funding coming its way. IBJ decided to ask what would happen if officials did something big and bold with the money.
For nearly a decade, voices across Indiana have raised warning flags about the need to repair the state’s aging water-utility systems and make plans to meet the growing water demand.
Most Indiana leaders and politicians agree that providing every Hoosier with a high-speed broadband connection is a worthy goal, if not a high priority. But they disagree over how to accomplish and pay for it.
Improving a 58-mile stretch of the White River and taking advantage of the natural resource that flows through the Indianapolis area has been on local leaders’ wish list for years.
Unlike many other states, Indiana has its fiscal house in order so this federal money is a rare opportunity for thoughtful new investment.
It is up to the state to get relief into the hands of those who need it most.
The president’s early blueprint calls for a nearly 16% increase in funding across non-defense domestic programs, reflecting the White House’s guiding belief that bigger government—and spending—can close the country’s persistent economic gaps.
The president has taken heat from Republican lawmakers and business groups for proposing that corporate tax increases should finance a $2.3 trillion infrastructure package that goes far beyond the traditional focus on roads and bridges.
Biofuels producers and some of their supporters in Congress say now is the time to increase sales of ethanol and biodiesel, not abandon them.
Amazon has been criticized for years for paying virtually no federal taxes in the United States even as it built an e-commerce empire that currently has a market value of $1.6 trillion.
U.S. Treasury Secretary Janet Yellen on Monday urged the adoption of a minimum global corporate income tax, an effort to offset any disadvantages that might arise from the Biden administration’s proposed increase in the U.S. corporate tax rate.
President Joe Biden wants $2 trillion to reengineer America’s infrastructure and expects the nation’s corporations to pay for it.
The ambitious plan, to be unveiled Wednesday, is expected to devote hundreds of billions of dollars to infrastructure, home care for the elderly and the disabled, efforts to revive manufacturing, and bolstering the nation’s electric grid, broadband access and water systems.
President Joe Biden has made clear his plans will include tax-policy changes to help fund what aides have laid out as a roughly $3 trillion long-term program.
Lawmakers raised questions about the organization’s role in fueling inequity in college sports, a sign that scrutiny of the Indianapolis-based NCAA is likely to expand beyond this month’s men’s and women’s basketball tournaments.
The second batch of payments sent out this week followed an initial 90 million payments made in the week after President Joe Biden signed the $1.9 trillion COVID relief measure on March 11.
Postmaster General Louis DeJoy said the Postal Service is weighed down by $188.4 billion in liabilities, and that he expects it to lose $160 billion over the next 10 years.
The centerpiece of the tax increases would probably be a higher corporate tax rate—reversing part of President Donald Trump’s steep corporate tax cut in 2017—as well as higher levies on investment income and a higher top marginal tax rate.
The infrastructure portion of the package would include roughly $1 trillion for roads, bridges, rail lines, electrical vehicle charging stations and the cellular network, among other items.
