Senate Dems unveil $1 trillion infrastructure plan
Funding for the plan would be offset by rolling back two-thirds of the revenue lost in the Republican tax bill by reinstating a top income tax rate of 39.6%, restoring the individual alternative minimum tax, reversing cuts to the estate tax, and raising the corporate income tax from 21% to 25%.
WASHINGTON, D.C. — Senate Democrats released a $1 trillion infrastructure plan to fund roads and bridges, public transit, and more that hinges on rolling back the recently passed tax overhaul, The Washington Post reports.
The $1 trillion investment into infrastructure would be offset by rolling back two-thirds of the revenue lost in the Republican tax bill by reinstating a top income tax rate of 39.6%, restoring the individual alternative minimum tax, reversing cuts to the estate tax, and raising the corporate income tax from 21% to 25%. For the full story, click here.
"The American Public Transportation Association (APTA) and its 1,500 public and private members applaud the Senate Democrats' Jobs & Infrastructure Plan for American Workers," said APTA President/CEO Paul P. Skoutelas. “APTA is encouraged that lawmakers on both sides of the aisle have recognized the importance of finding a way to invest in the nation's public transportation infrastructure. Advancing effective legislation to address our infrastructure needs will require support from the Administration and a bipartisan majority in Congress, and we look forward to working with Congress and the Administration on all of the proposals that are put forward."
“We appreciate the Senate Democrats’ proposal to fund transportation and other infrastructure needs. Senate Democrats believe, as we do, that legislation must include robust federal funding to rebuild our American infrastructure,” said Marcia Hale, president of Building America’s Future. “What is urgently needed is a bold vision, and a long-term and sustainably funded plan that is grounded in 21st century solutions for 21st century challenges. We urge Republicans and Democrats in Congress to prioritize infrastructure and work together to develop one bipartisan and strategic bill that provides long-term funding.”
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