President Biden unveiled a $2.3 trillion infrastructure plan centered on fixing roads and bridges, expanding broadband internet access and boosting funding for research and development, plus higher corporate taxes to pay for the package.

“It’s not a plan that tinkers around the edges,” Mr. Biden said during a speech in Pittsburgh, where he kicked off his presidential campaign. “It’s a once-in-a-generation investment in America.”

The Democratic president cast his plan as a fundamental shift in economic thought away from the small-government, tax-cutting approach embraced decades ago under Ronald Reagan, a Republican.

“Here’s the truth: We all will do better when we all do well,” Mr. Biden said, arguing that the pandemic had exposed longstanding inequalities in the country. “It’s time to build our economy from the bottom up and from the middle up, not the top down.”

He said his plan isn’t an attack on wealthy Americans. “This is not to target those who’ve made it, not to seek retribution,” he said. “This is about opening opportunities for everybody else.”


Source: WSJ