GOP Says Corporate Tax Hike Will Cut Jobs

Democrats say broadband, electric vehicles are part of modern-day definition of infrastructure.

Video Transcript

ALEX ARGER: From road and bridge construction to caring for the elderly to boosting electric vehicles, the Biden administration's $2 trillion jobs plan is broad-based, but critics are pointing out that only an estimated 5% is going directly to traditional infrastructure projects.

TATE REEVES: Although the Biden administration is calling it an infrastructure plan, it looks more like a $2 trillion tax hike plan to me. That's going to lead to significant challenges in our economy. It's going to lead to slowing GDP. And it's going to lose to-- it's going to lead to Americans losing significant numbers of jobs.

ALEX ARGER: Biden administration officials took to Sunday morning talk shows to defend it.

CECILIA ROUSE: I think it's important that we upgrade our definition of infrastructure, one that meets the needs of a 21st century economy. And that means we need to be funding and incentivizing those structures that allow us to maximize our economic activity.

PETE BUTTIGIEG: Traditionally, the internet wasn't considered infrastructure because in the Eisenhower years, of course, it didn't exist. But infrastructure investment has to include looking to the future.

ALEX ARGER: The Biden administration is looking to big companies to foot the bill, reversing the corporate tax from its Trump era cut.

ROGER WICKER: When you talk about big businesses, and you're saying we should raise their tax rate from 21% corporate rate to 28%, let me just tell you, that's going to cut job creation in the United States of America. And it's the very reason we lowered those tax rates in 2017.

ALEX ARGER: As for the American public, a new Reuters Ipsos poll shows wide support for spending on infrastructure like roads and bridges. But for President Biden's wider plan, 45% support it, 27% oppose, and 28% are still unsure. For Newsy, I'm Alex Arger.