-- $12.5 billion to improve airports across the country.
-- $17.5 billion to upgrade air traffic control systems.
-- $15 billion to improve inland waterways, coastal harbors and shipping channels.
-- $12 billion each year on high-hazard dams that provide flood control, drinking water, irrigation, hydropower, and recreation across the country; and the flood levees.
-- $6 billion a year so states can improve drinking water systems.
-- $6 billion a year to improve the wastewater plants and stormwater infrastructure.
-- $10 billion a year for power transmission and distribution modernization projects.
-- $5 billion a year to expand high-speed broadband networks in underserved and unserved areas, and to boost speeds and capacity all across the country.
Warren's Key Tests For Corporate Tax Plans
Clinton's infrastructure plan says only that it will be paid for through "business tax reform." It does not detail the nature of the reforms that would pay for this spending. Similarly, Sanders does not yet have a specific individual and corporate tax proposal, but he has proposed a financial transaction tax and says he will close loopholes.
As we wait for the candidates' plans for raising revenue through individual and corporate taxes, Sen. Elizabeth Warren has recently outlined a set of principles that we can use to judge the plans the candidates eventually offer.
Earlier this month Warren gave a speech laying out key tests for a progressive approach to corporate tax "reform." The post "Must Watch -- Warren's Warning About The Coming Corporate Tax Giveaway" covers this speech. She says that "the problem with our corporate tax code" is "not that taxes are far too high for giant corporations, as the lobbyists claim. No, the problem is that the revenue generated from corporate taxes is far too low."
Warren laid out three principles for tax reform that benefits middle-class families and small businesses, not just wealthy multinational corporations:
1) Increase the share of revenue that corporations pay. The tax code now is so tilted toward the big corporations that any "revenue neutral" plan leaves the country with too little money to fund basic services.
2) Level the playing field between small and big businesses. The business tax code is rigged against small businesses, making it harder for them to compete.
3) Promote investment and jobs in the U.S. Lower tax rates and loopholes for hiding profits overseas encourages more outsourcing of jobs and investment. "Our tax code should protect jobs and investment here at home, period," Warren said.
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