Biden taps five Cabinet members to lead infrastructure messaging

McConnell says Republicans will 'fight' Biden plan

McConnell says Republicans will 'fight' Biden plan

In an effort to fund roughly $2.3 trillion in spending over the next eight years, Biden's proposal would hike the corporate tax rate from 21% to 28%-partially reversing the corporate rate cut that McConnell shepherded through Congress in 2017-and take steps to prevent companies from dodging their USA tax obligations by shifting jobs and profits overseas. Biden claimed that the massive investment in USA infrastructure will create 19 million jobs in the country which is now suffering from a surge in unemployment caused by the pandemic.

He further stressed that Congress "should act" on his plan and insisted that the tax rises required for it will not slow down the American economy, as critics of his proposals claim. "As we rebuild our economy following COVID-19 lockdowns, there must be an emphasis placed on opportunity and growth, not roadblocks to investment and new tax burdens for working families", he said.

"American rescue plan is starting to make a real difference in the economy".

It will be paid for by hiking taxes on big corporations to a higher rate than what former President Donald Trump signed off on in his 2017 tax package.

Biden has proposed funding the package by raising the tax rate on USA corporations to 28% from 21% and making it harder for companies to use offshore tax shelters and other methods to reduce their tax burdens. "Let's call this proposal what it really is - an attempt to push through liberal priorities like the Green New Deal, paid for by historic tax increases on hardworking Americans", the lawmaker said.

US Capitol: Two officers injured and building locked down
The forces were already on Capitol grounds, according to an announcement, but details were limited due to security concerns. The crash occurred about 91 metres from the entrance of the building on the Senate side of the Capitol.

According to Biden, 91 Fortune 500 companies, such as Amazon, Starbucks and JetBlue Airways, did not pay a "single, solitary penny" in federal income taxes.

"I start with one rule - no one, I'll say it again, no one making under $400,000 will see their federal taxes go up, period", Biden said.

"I'm going to fight them every step of the way, because I think this is the wrong prescription for America", he said.

"The divisions of the moment shouldn't stop us from doing the right thing for the future", Biden said. If the Republicans decide that we need it but they're not going to pay for it, it's just going to increase the deficit, ' Biden began.

Biden said America should join together to carry out his plans for a better future.

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