The President unveiled his sweeping plan to improve roads, clean water, and internet access during a speech in Pittsburgh Wednesday.
What We Know:
- NBC reported that Biden’s proposal, called the “American Jobs Plan,” is aimed at strengthening the middle class and fighting climate change. “It’s a once-in-a-generation investment in America, unlike anything we’ve seen or done since we built the interstate highway system and the space race decades ago,” said Biden during his speech.
- The money will be spent over eight years and paid for over 15 years by raising the corporate tax rate from 21% to 28%. Biden urged Congress to act quickly, saying it could be “the moment that won America the future.” While infrastructure programs normally gain bipartisan support, Biden’s plan is expected to receive Republican pushback.
- Senate Minority Leader Mitch McConnell indicated he’s unlikely to support any legislation involving tax increases. He called the proposed bill a “Trojan horse” filled with progressive legislation. House Speaker Nancy Pelosi said she hopes to pass the bill by July 4th.
- Included in Biden’s plan is $621 billion to improve highways, bridges, and airports; $400 billion for elderly care; $200 billion to replace lead pipes and build high-speed internet; and $180 billion to invest in clean energy according to ABC.
Biden’s ambitious plan will bring thousands of jobs back to the workforce and jump start a U.S. economy still reeling from the effects of the pandemic.
