Transportation Secretary Pete Buttigieg argued the Joe Biden administration’s “infrastructure” spending plan will be “fully paid for” by a tax “adjustment.”
In comments to NPR Thursday, Buttigieg said:
Over the course of that eight-year vision, we are going to be enhancing the roads and bridges of this country. We’re going to be improving our ports and our airports. We’re going to be delivering better transit and better rail. Those are investments whose benefits will last a lifetime and then some, and that eight years of investment is fully paid for across the 15 years of the tax adjustment, which means by year 16, it’s actually going to reduce the deficit.
That “adjustment” is a proposal to raise the corporate tax rate from 21 percent to 28 percent.
Biden’s plan “makes once-in-a-century investments that will strengthen our economy and allow us to compete with countries like China,” according to