ALBANY, N.Y. -- Senator Chuck Schumer made his way to Albany to introduce a new infrastructure plan on Monday.
The proposal would increase the top individual tax rate to 39.6 percent, restore the individual alternative minimum tax, restore the estate and gift taxes, close the carried interest loophole, and bring the corporate tax rate to 25 percent. Money earned from those tax moves would then go to funding infrastructure projects.
According to Schumer, half of the state's bridges are more than 75 years old, and more than 40 percent of the state's sewer pipe is more than 60 years old.
The Livingston Avenue Bridge that connects Albany and Rensselaer by train is 115 years old, and is one project that could potentially be funded.
"If this bridge, 115 years old, were to fail, Amtrak passenger service west and north of the Albany-Rensselaer station would be gone and our whole regional economy would collapse. So you can't keep ignoring this," Schumer said.
It's unknown exactly how much it would cost to improve the Livingston Avenue Bridge, but similar projects have cost between $800 million and $1 billion.