Infrastructure, global tax rate, and GaetzGate
Here's the news of the week and some good reads.
Biden, Buttigieg propose $2.2 trillion infrastructure plan
Last week, the Biden administration unveiled a long-awaited infrastructure package that seeks to fix crumbling roads and bridges, expand electric vehicle access, and connect rural areas to broadband services. Transportation Secretary Pete Buttigieg has taken the lead on this package, holding bipartisan discussions with legislators and infrastructure experts. In addition to traditional infrastructure, this package allocates $400 billion to improving community care for elderly and disabled populations and over $300 billion to subsidize and support American manufacturing.
Yellen advocates for global minimum corporate tax rate
Although many Republicans support the administration’s premise on the infrastructure legislation, they have expressed concern about the exorbitant proposed price tag. In an attempt to counter Republican claims, Treasury Secretary Janet Yellen announced an initiative to enforce a global minimum corporate tax rate in cooperation with G20 nations. Yellen claims that a non-binding resolution to standardize international rates could discourage American firms from outsourcing production to other low-tax nations. This minimum would allow the Biden administration to adjust the corporate tax rate from the 21% established under President Trump to 28%, 4% higher than the global average, without fear of companies fleeing to tax havens. Such a tax increase would be the driving source of funding for the administration’s infrastructure plan.
This plan would likely be non-binding, but such broad international financial policy rightfully concerns some. Is it wise for America to police international taxation, or should the government keep taxes low to competitively earn business loyalty?
Gaetz scandal fallout continues
Controversial U.S. Rep. Matt Gaetz (R-FL) is under investigation by the House Ethics Committee for alleged sexual misconduct with a minor across state lines. Last summer, the Justice Department opened an investigation in Gaetz’s dealings as recently revealed by the New York Times. Gaetz, a staunch supporter of President Trump who once wore a gas mask in the House chamber and campaigned against fellow Republican Liz Cheney, has flatly denied these allegations as “blatantly false” and counters that his family has been subject to a $25 million extortion plot. The net appears to be closing around Rep. Gaetz, as GOP Rep. Adam Kinzinger and Democratic leaders have called for his resignation.
As another sex scandal rocks Capitol Hill, we are yet again faced with the brutal truth: our leaders are marred by the same sinful nature as the rest of humanity. As Christians devoted to faithful political engagement and public flourishing, we must hold our leaders accountable to a higher standard by voting for and supporting those who both advocate for justice and embody servant leadership marked by integrity.
Articles of the week
David French (The Dispatch) - A resurrection faith retains its power, but not the power we crave
The Christian faith is a resurrection faith. It is rooted in an eternal reality that not even death itself can prevail against the sovereignty and love of the Creator God. In rebirth, we change. We transform. Or, to put it another way, when it comes to the health and strength of the American church, Good Friday is in process. But fear not: We know that Sunday is on its way.
Kevin DeYoung (The Gospel Coalition) - Why Reformed evangelicalism has splintered: four approaches to race, politics, and gender
Conceptual groupings can help us see more clearly that our disagreements are not just about one thing, but about the basic posture and way in which we see a whole lot of things.
Kate Shellnut (Christianity Today) - Wall Street crisis could cost evangelical organizations
The hedge fund at the center of massive selloffs in the market last week was the Christian-owned Archegos Capital Management—named for ἀρχηγός, the Greek word used to describe Christ as the “author” of our salvation (Heb. 2:10) and the “prince” of life (Acts 3:15).