Biden doubles down on his $2trillion infrastructure plan

Joanna Estrada
April 3, 2021

"This morning, we've learned that our economy created 900,000 jobs in March".

President Joe Biden and first lady Jill Biden walk onto the South Lawn as they leave for Camp David for Easter weekend.

On Wednesday from Pittsburgh, Biden debuted his $2 trillion infrastructure plan that will invest in roads, bridges, broadbant technology, water projects, housing and job training efforts.

Biden hopes the jobs numbers are in a sign that a sustained recovery from the pandemic recession is taking hold as vaccinations accelerate, stimulus checks flow through the economy and businesses increasingly reopen.

But one area unlikely to receive support from Republican McConnell is the tax increase, which he has characterized as a "Trojan horse". "This is going to boost America's innovative edge in markets for global leaderships up for grabs, markets like battery technology, biotechnology, computer chips, clean energy, the competition with China in particular".

In the House of Representatives, the Democratic majority is slightly more comfortable, and if there aren't any major defections, Speaker Nancy Pelosi hopes to pass the Biden plan in early July. Biden said that the new economic strategy that his administration has launched, one focused on building from the bottom up in the middle out, and one that puts government on the side of working people. "There's talent, innovation everywhere".

President Biden has unveiled his $2.3 trillion dollar infrastructure plan.

He did the same for the American Rescue Plan but didn't end up getting any GOP support. The benefits and the impact the American Rescue Plan are temporary by design.

He has proposed financing the spending with a corporate tax increase to 28 percent, from the current 21 percent. Biden also said he wants to establish a 21% "global minimum tax" for American corporations, to "level the worldwide playing field" and generate another $1 trillion within the next 15 years.

Americans who make more than $400,000 annually could also see an increase. "This is not about penalizing anyone". He also said he will talk to Republicans to hear their perspective, and political "divisions" shouldn't stop the government from "doing the right thing for the future".

'If the Republicans argue that we don't need infrastructure.

"I'm going to fight them every step of the way because I think this is the wrong prescription for America", McConnell said.

Other reports by Click Lancashire

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