Bloomberg Tax
March 31, 2021, 9:00 AM

What’s in Biden’s $2.25 Trillion Infrastructure and Tax Proposal

Laura Davison
Laura Davison
Bloomberg News

President Joe Biden released a sweeping plan to pump money into transportation, renewable energy, manufacturing and efforts to combat climate change -- funded by undoing some of the tax breaks that corporations received during the Trump administration.

The $2.25 trillion, eight-year proposal is a follow-up to the $1.9 trillion economic relief bill passed earlier this month. To cover the costs, Biden wants to raise corporate taxes to 28% from 21%. The plan also seeks a minimum tax on profits U.S. corporations earn overseas, increasing the rate to 21% from roughly 13%.

The White House plans a second major package, which ...