WASHINGTON—Business leaders see much to like—and much that worries them—in President Biden’s first 100 days in office.
Executives in manufacturing, automotive, construction and other industries say they see opportunity in the trillions of dollars Mr. Biden wants to spend to build infrastructure, boost domestic manufacturing, and curb greenhouse-gas emissions linked to climate change.
That is tempered by wariness over Mr. Biden’s plans to achieve those goals via higher corporate taxes, and expected new regulations on fossil fuels, telecommunications and other industries.
Business and industry leaders are also mindful that Mr. Biden hasn’t filled many key oversight jobs, leaving questions about
The U.S. needs to address an ongoing shortage of semiconductors by investing in its chip “infrastructure,” President Joe Biden said during a virtual summit meeting with auto executives and other business leaders Monday afternoon.
“These chips, these wafers … batteries, broadband — it’s all infrastructure. We need to build the infrastructure of today and not repair the one of yesterday,” Biden said. “The plan I propose will protect our supply chain and revitalize American manufacturing.”
The event was called to address an immediate crisis that has impacted key industries, including consumer electronics, pharmaceuticals and auto manufacturing. Few sectors have been
Republicans and Democrats agree that the U.S. is in dire need of a major infrastructure overhaul, and at the very least, that Congress should authorize significant repairs to roads and bridges.
The fierce disagreement between the two parties begins over which provisions are worthy of running the federal deficit higher, as well as over how to finance such a massive undertaking.
And while Wall Street worries about potential increases to corporate and individual income tax rates, Democrats may soon turn to an Obama-era tool to finance their infrastructure plans: Build America Bonds.
BABs are special municipal bonds that allow states
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