Keckley Report April 5, 2021
Last Wednesday, the Biden administration announced its infrastructure bill—the $2.3 trillion “American Jobs Plan” that includes $400 billion for home caregivers among its domestic spending programs.
As proposed, the American Jobs Plan will be implemented over the next 8 years and paid for by higher corporate taxes for the next 15 years. Specifically, it is funded through the companion Made in America Tax Plan that increases the corporate tax rate to 28% from 21%, imposes a 15% minimum tax on corporate book income levied on a firm’s financial profits instead of taxable income for firms with revenue over $100 million, raises the minimum tax on the global income of the multinationals from 10.5% to 21% and beefs-up enforcement efforts by...
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