Democrats plan to fund $3.5T infrastructure with tax changes, health savings and growth
Vague reports on how Democrats will pay for stimulus
Moderate Democrats have insisted they won't support a new infrastructure plan unless it's paid for. They rolled out a $3.5 trillion plan yesterday but we still don't know how it's going to be paid for.
Now some reports are crossing offering some ideas (though these are hardly surprising):
- Tax changes
- Health care savings
- Long term economic growth
Biden has insisted that individual taxes don't go up on those making less than $400,000. The corporate rate will also rise. Biden last week was talking about buying prescription drugs from Canada so that might be part of the savings.
For the energy space, there's talk of methane reduction fees. There might also be trade quirks with 'polluter import fees'. Those fees could be problematic for Canada.
Another report says no tax hikes on small businesses and family farms. Yet another says taxes will go up for corporations, high income individuals and via greater tax enforcement.