Funding infrastructure investments by increasing the tax on corporations makes sense. First, someone has to pay for it and corporations will be primary beneficiaries. More importantly the effective US corporate rate is also relatively low, and the expansion of 'pass through' entities which pay no taxes at the 'corporate level' had further decreased federal income from corporations. These charts from the Peterson Foundation show how corporations federal income taxes has decreased as percentage of US federal revenues and as a percentage of GDP. A return to the norm seems justified.
Six Charts That Show How Low Corporate Tax Revenues Are in the United States Right Now
Compared to historical trends and other advanced economies, corporate tax revenues in the United States are low.
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