Where has Biden did any of that?
OWNERSHIP IS SMALL, BUT CONTROL IS LARGE Federal politicians often champion infrastructure, but the federal government owns relatively little of it. Defined broadly as nonresidential fixed assets, the U.S.private sector in 2019 owned $26.2 trillion of infrastructure, such as power stations,freight railways, pipelines, factories, and cellphone networks. State and local governments owned $12.1 trillion of highways,schools, water systems, and other assets.The federal government owned only $1.8trillion of nondefense infrastructure, including dams, postal facilities, Amtrak, andthe air traffic control system.Although the federal government owns less than 5 percent of U.S. infrastructure,it imposes extensive control over state,local, and private infrastructure through spending, regulations, and taxes. In 2019,the federal government spent $36 billion on its own nondefense infrastructure and $81 billion on state and local infrastructure.(It also spent $68 billion on nondefense research.) Biden wants to increase spending on government infrastructure and create new subsidies for private infrastructure,such as manufacturing, broadband, electricity, and electric vehicles.Biden proposes to finance his infrastructure plan by raising corporate income taxes, but that would undermine private infrastructure by suppressing investment.
