Manchin's proposed change would have a huge impact on how the Biden infrastructure plan is paid for, while largely preserving a tax policy that delivers a windfall to a tiny handful of executives at major corporations.
"It's core to our competitiveness," Secretary of Commerce Gina Raimondo told reporters.
The president wants to raise the top corporate tax rate from 21 percent to 28 percent in order to cover the cost of a $2 trillion infrastructure package.
Should a large-scale infrastructure program be passed, it would go a long way towards helping angry and alienated Americans left behind in communities like many in my home state of Michigan.
As we Build Back Better after the COVID-19 pandemic and President Biden pushes forward with his $2 trillion infrastructure plan, we must recognize the importance of supporting strategic domestic industries that have an important role in protecting U.S. national and economic security.
Biden is excited about rebuilding America's "infrastructure," a word he uses constantly although it could be the dullest term in all of public policy.
The transportation secretary defended the proposal, describing it as the "biggest investment in American job creation" introduced since World War II, during an appearance on ABC News' 'This Week.'
Biden's so-called "big and bold" infrastructure plan has been widely derided by Blunt and other Washington Republicans who said it's bloated in the same way the COVID-19 relief package was.
The proposal would spend $115 billion over eight years to modernize 20,000 miles of roadways and 10,000 bridges in need of repair.
The president's $2 trillion infrastructure bill proposes $80 billion in funding to improve national railroad services. An Amtrak spokesperson told Newsweek that the company would be willing to expand rail lines into South Dakota if the state expressed interest.
President Joe Biden recently unveiled his infrastructure plan, which is estimated to cost between $2.2 and $2.7 trillion.
Progressive lawmakers have proposed pushing through a $10 trillion infrastructure package instead.
The American Jobs Plan will invest about $2 trillion in infrastructure and jobs over the next eight years.
The $2 trillion infrastructure and jobs bill proposes investing $100 billion to expand broadband access over the next eight years.
"The current amount of investment we're doing is barely, barely enough to keep pace with just the maintenance of the infrastructure," Moody's Analytics chief economist Mark Zandi told CNN. "And we can all feel it, right?
"Needs to be way bigger," the progressive congresswoman said, adding that the money is spread out over 10 years, while the $1.9 trillion American Rescue Plan is for this year alone, with some provisions lasting two years.
Infrastructure upgrades consistently poll well among the public. A Monmouth University poll released in January found 61 percent of the people surveyed rated transportation and infrastructure as "very important" or "extremely important."
President Joe Biden is expected to lay out the specifics of a sprawling infrastructure plan, while congressional leaders said they plan on crafting legislation in earnest in the weeks ahead.
After Congress passes a $1.9 trillion coronavirus stimulus package, President Joe Biden is expected to start building support around an infrastructure package that will create jobs and modernize the nation's crumbling transportation system.
The Vermont independent, who caucuses with the Democrats, has suggested a push could be made on infrastructure which could bypass the need for Republican support.
"It's got to have something to do with the infrastructure," said John Cooper about the incident.
"We do need a stimulus bill. There's no question about it," Congressman Brian Fitzpatrick said.
What's the most critical move the next president should make to restore the country's economic health? Newsweek asked 12 top financial experts to offer the next occupant of the White House their best advice.
Parts of the I-10 Calcasieu River Bridge, running between Lake Charles and Westlake, have been closed due to safety concerns.
Given recent events, Israel must commit to decoupling from China.
New York Gov. Andrew Cuomo, a Democrat who has occasionally clashed with President Donald Trump during the pandemic, is the latest state official slated to meet with Trump to discuss the response to and future recovery from the novel coronavirus.
The end goals laid out by Democrats—expanding access to things like clean water, tele-health, remote teaching, broadband internet and 5G—are objectives that could require time-consuming solutions but yield long-term benefits, some economists said.
Expanding digital infrastructure, like broadband internet and 5G, and access to clean water are on Democrats' wish list as the coronavirus pandemic has forced much of the globe to function remotely from the safe confines of one's own home.
The former secretary of state said the Trump administration's attempts to contain the coronavirus are exposing his lack of investment in infrastructure or the country's future.
Researchers found sand dunes interact and repel one another to move across the landscape.