This segment of What’s Ahead reveals why President Biden’s proposed infrastructure plan will harm the economy more than help it.
The tax increases the President has put on the table—and other very harmful ones soon to come—will slam the very manufacturers Biden professes he wants to help. Small businesses will particularly take it on the chin. Our corporate tax rate will be just about the world’s worst. China will be delighted.
Why spend $300 billion—as the president proposes—to assist manufacturers, when that sector is doing better as the economy recovers, and then slam it with big league tax hikes?
Biden also plans to allocate billions of dollars for 500,000 electronic-vehicle charging stations. Did Washington subsidize gasoline stations?
The Biden package wants to spend billions to make housing more affordable, when government mandates and rules are the real villains. They’re also the big cause of delays in infrastructure projects, which the Biden team is ignoring.