As President Joe Biden is slated to unveil a sweeping infrastructure bill Wednesday, the U.S. Chamber of Commerce said that the way it would be funded—via an increase in taxes—is “dangerously misguided.”
“Properly done, a major investment in infrastructure today is an investment in the future, and like a new home, should be paid for over time—say 30 years—by the users who benefit from the investment,” the lobbying group said. “We strongly oppose the general tax increases proposed by the administration which will slow the economic recovery and make the U.S. less competitive globally—the exact opposite of the goals of the infrastructure plan.”
