Biden Lowers Infrastructure Plan to $1.7T; National Guard Leaves Nation's Capital After 137 Days

National guard troops are departing the nation's capitol. Those deployed to protect the district began the process of leaving Washington on Sunday. Retired lieutenant general Russel Honoré said the mission of securing the capitol has been accomplished —137 days after the events of January 6th.

Infrastructure is still a hotly debated topic on Capitol Hill. President Biden slashed the infrastructure proposal down to $1.7T from the original $2.25T. But Republicans say many of the cuts they requested weren't made. The Republican's counter proposal costs $568B. Biden has indicated tax hikes on the wealthy, raising the corporate tax rate to 28 percent, as the way to pay for the massive infrastructure plan.

And the global minimum tax is also expected to go up. The White House says it's a top priority of Biden's. But what effect does a higher global minimum tax have on the markets? It's seen as a way to level the playing field. Law professor and director of the international tax program at the University of Michigan, Reuven Avi-Yonah told Fast Company that's because if all countries had the same tax rate, there would be no benefit for companies to create offshore subsidiaries.

Tune into Deep Dive as we explore these topics and more.