President Joe Biden wants $2 trillion to reengineer America’s infrastructure and expects the nation’s corporations to pay for it. The Democratic president unveiled plans this week for what would be a hard-hatted transformation of the U.S. economy. It includes $621 billion for roads, bridges and transportation infrastructure. Retired Ripon College economist Paul Schoofs says it would be one of the most ambitious spending plans on infrastructure in 50 years. “In one word, wow!” Schoofs told WFDL news. Schoofs says the plan goes well beyond just repairing roads and bridges. The plan would also move the country away from fossil fuels to clean energy and expand broadband. It would be financed by raising the corporate tax rate from 21% to 28%, among other measures. That could lead to fierce resistance from the business community and thwart attempts to work with Republicans lawmakers.
