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Now that the coronavirus relief package is actually law, it is onto infrastructure for the Biden administration and its razor-thin Democratic majority in Congress. But infrastructure legislation will come with strings attached — very hefty new taxes.
The White House will propose $1 trillion worth of new taxes, according to Sarah Bianchi, head of U.S. public policy and political strategy at Evercore ISI and the former director of economic and domestic policy for then Vice President Joe Biden.
Officials including Treasury Secretary Janet Yellen have started suggesting what will be in the White House plan.
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