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Joe Biden will present this Wednesday, March 31 in Pittsburgh (Pennsylvania), where he launched his campaign, his plan dedicated to the country's infrastructure. And he wants " <em>see big</em> ". The dedicated envelope could exceed $ 3 trillion. It must be said that the needs are important. The Federation of American Civil Engineers recently gave a grade of C- to all of the country's aging infrastructure. But whatever the exact content of the plan, its implementation will present many challenges. </p><div> <p>The financing of the <strong>Joe Biden</strong> for the country's infrastructure is a headache, all the more so as all the infrastructure is not the responsibility of the same authorities. The highways connecting the states were built by the federal government, but their maintenance is the responsibility of the states.
Secondary roads are the responsibility of the counties. As for the airports, they are managed by private investors. In addition, many highways are free. Their maintenance leaves all the more to be desired.
Neither Barack Obama nor Donald Trump could keep their commitments
Janet Yellen, the Secretary of the Treasury, suggested that part of the envelope could come from increased corporate taxes. The rate could go from 21 to 28%. The Biden administration is also considering raising taxes for taxpayers whose annual salaries exceed $ 400,000. The idea of charging motorists per kilometer, put forward last week, has however already been ruled out.
The challenge will also be political. President Joe Biden has only a narrow majority in Congress. And if Democrats and Republicans agree on the need to modernize infrastructure, its two predecessors have not been able to keep their promises in this area. The bill for another failure could be steep. The Federation of American Civil Engineers estimates that by 2039, chronic underinvestment could cost 10,000 billion dollars in GDP.
Source site www.rfi.fr