How do you plan to finance Biden's infrastructure plan?

President Joe Biden called on Congress this week to approve his ambitious $ 2.3 trillion infrastructure plan, saying he is willing to negotiate with Republicans but "is not willing to do nothing."

The Democrat discussed the significance of infrastructure in a modern economy and defended spending on the electricity grid, water pipes and broadband internet as necessary infrastructure.

To finance his plan, Biden assured that he will increase taxes on companies, especially large multinationals.

Biden plans to finance his plan in large part with a

28%

increase in

corporate income

and an increase in the global minimum tax, set at 21%.

[This is how Biden proposes raising taxes to pay for his new stimulus plan focused on infrastructure]

Biden's plan also includes the

elimination of tax subsidies for fossil fuel companies,

as well as harsh

penalties

for companies that try to move their profits outside the United States to low-tax countries like Bermuda. 

The Treasury Department projects that those measures will force companies to shift $ 2 trillion in profits over the next decade to the United States.

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The Secretary of the Treasury, Janet Yellen, assured that the plan would double the investment in the qualification of the workers and in traditional infrastructures such as roads and bridges, as well as in modern infrastructures such as broadband.

The increases would produce about

$ 2.5 trillion in revenue over 15 years

, enough to cover the proposed eight years of infrastructure investments.

According to Yellen, it was "counterproductive" for former President Donald Trump to assume that reducing the corporate tax rate from 35% to 21% in 2017 would make the economy more competitive.

Yellen assured that this

was at the expense of the workers.

"Tax reform is not a zero-sum game," he told reporters in a call.

"Win-win is an overused phrase, but now we have a real victory in front of us," he added.

[Biden's new stimulus plan will not raise taxes on you.

But this is what you need to know]

The difference of about

$ 200 billion

between what taxes would collect and what the Administration wants to spend suggests there is room to heed criticism, such as West Virginia Sen.

Joe Manchin,

a key Democratic vote, who

would prefer a rate of the 25%.

Republican

lawmakers

have opposed the plan

because of its tax increases and what they say is too broad a definition of infrastructure.

Commerce Secretary Gina Raimondo said Wednesday that companies and lawmakers should come to the negotiating table, noting that there could be room to negotiate the rate and schedule.

"There is room for compromise

," Raimondo said at the White House briefing.

"What we cannot do, and what I implore the business community not to do, is to say: 'We don't like the 28th. We are going to go. We are not going to argue," he warned.

This eight-year plan is so comprehensive that it has been compared to Franklin Roosevelt's New Deal, launched in the 1930s or Lyndon Johnson's Great Society, in the 1960s.

With information from AP and The New York Times.