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A constructive idea for infrastructure, taxes

A constructive idea for infrastructure, taxes

As much as the $4 trillion budget President Barack Obama sent to Congress Monday is a highly political document giving his allies things to rally around and his opponents proposals about which to grouse, the spending plan succeeds at putting two issues of irrefutable importance front and center — the nation's failure to address its crumbling infrastructure at home and the growing pile of profits held by U.S. firms abroad.

Finding a solution to both these problems ought to be a higher priority for Washington than holding up funding for the U.S. Department of Homeland Security or even finding ways to finance community college. And as it happens, Mr. Obama has chosen to link them —...