A new report from Moody’s lays out the massive benefit President Joe Biden’s American Jobs Plan would have on the American economy, and pushes back on Republican arguments in their efforts to protect corporations from paying higher taxes.
According to Moody’s, “President Biden’s American Jobs Plan would boost US growth and reshape parts of the economy.”
Moody’s: “‘If enacted, the plan would be positive for US economic growth, employment and productivity. Beyond supporting economic output and jobs, the proposal aims to restructure parts of the US economy by investing in clean energy, new technologies and workforce development,’ says Moody’s Vice President Rebecca Karnovitz.”
Moody’s confirms higher corporate taxes would not be the disaster congressional Republicans pretend it will be, and the vast majority of Americans support raising taxes on corporations to pay for infrastructure.
Moody’s: “President Biden has proposed raising corporate taxes to pay for the spending package. While some companies would face higher tax bills, the drag on the US economy likely would be limited.”
Morning Consult: “More Than 3 in 5 Voters Support Corporate Tax Hike to Fund Biden’s Infrastructure Plan”
