The following is a statement from Amy Hanauer, executive director of the Institute on Taxation and Economic Policy, regarding the signing of the Infrastructure Investment and Jobs Act.
America does better when we invest in our people, our places and our planet. The infrastructure bill that President Biden signed today will restore and strengthen our physical infrastructure, making repairs and improvements that are long overdue. Now Congress needs to take the next step and pass legislation that taxes wealthy people and corporations to pay for our care and climate infrastructure. The proposed 15 percent minimum tax on large corporations, the tax changes to stop encouraging outsourcing, and the surtaxes on the wealthiest are crucial provisions that should become law alongside today’s infrastructure package. Only then will we be able to really begin building back better.