Promoting infrastructure: The president touted his infrastructure plan, which would invest in America’s bridges, roads, airports, water systems and broadband, especially in rural areas around the country.

Increasing funding: The president’s new proposals would be funded through a mix of income and capital gains tax increases on the wealthiest Americans as well as tax increases for corporations. An increase in IRS funding will also empower the agency to conduct more audits and collect more money.

Promoting infrastructure: The president touted his infrastructure plan, which would invest in America’s bridges, roads, airports, water systems and broadband, especially in rural areas around the country.

Increasing funding: The president’s new proposals would be funded through a mix of income and capital gains tax increases on the wealthiest Americans as well as tax increases for corporations. An increase in IRS funding will also empower the agency to conduct more audits and collect more money.

Funding Support Manufacturing: President Biden has requested $580 billion for U.S. manufacturing, R&D and workforce development.

NAM President and CEO Jay Timmons said in response to the speech:

  • “We look forward to working with President Biden to achieve historic infrastructure investment, including the many priorities offered in our ‘Building to Win’ plan, which, in addition to identifying areas of investment, also provides multiple funding solutions.
  • “Manufacturers have also provided roadmaps on critical issues ranging from immigration to climate change. We’re ready to work with President Biden and members of any party to deliver bipartisan progress on these issues and more, all while ensuring we’re strengthening the manufacturing workforce, not jeopardizing manufacturing growth in the United States.
  • “To that point, raising taxes on manufacturers—including many small businesses that pay at the individual rate—would stop our recovery in its tracks; we would lose 1 million jobs in just the first two years alone. Small manufacturers would be especially hard hit at this critical juncture, restricting their ability to raise wages and benefits, hire more workers and invest in their communities. Similarly, changes to the longstanding tax rules on the transfer of family businesses to the next generation of manufacturers would cost American jobs.
  • “Returning to archaic tax policies and one of the highest business tax rates in the developed world is not the way to build our future, nor are federal policies to force workers to join a union. Anti-worker policies like the PRO Act would inject uncertainty by driving a wedge in established employee–employer relationships and curtail future manufacturing investments that support our communities and families.
  • “As we continue to get armed against COVID-19, manufacturers are focused on building the next, post-pandemic world—one that affords even greater opportunity for all Americans.”