Thursday 1, April 2021: US President Biden laid out his $2 trillion infrastructure proposal during his remarks in Pittsburgh, Pennsylvania, and addressed concerns about taxing top earners to pay for it.
“This is not to target those who’ve made it, not to seek retribution. This is about opening opportunities for everybody else,” Biden said.
“And here’s the truth, we all will do better when we all do well. It’s time to build our economy from the bottom up, and from the middle out. Not the top down.
“It hadn’t worked very well. For the economy, overall, it hadn’t worked because Wall Street didn’t build this country.
“You, the great middle country built this country, and unions built the middle class, and it’s time — this time we’ll rebuild the middle class, we’re going to bring everybody along, ” he said.
Some more background: Biden plans to pay for his proposal by raising corporate taxes and eliminating tax breaks for fossil fuels, which was one of his core campaign promises.
The White House says this tax hike would raise more than $2 trillion over the next 15 years.