Details Of Biden’s American Jobs Plan Or Infrastructure Plan
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President Joe Biden spoke at Pittsburg, Pennsylvania to discuss details of his infrastructure bill as part of his American Jobs Plan, in the video published on March 31, 2021, “Watch President Joe Biden’s full speech on his $2 trillion infrastructure plan“, below:
For more details of Biden’s American Jobs Plan, look under the Infrastructure proposal of Economic policy of the Joe Biden administration, from wikipedia, in italics, below:
Biden has proposed a $2.65 trillion infrastructure package known as the American Jobs Plan with investments over 10 years, fully paid for by corporate tax increases over 15 years. A White House fact sheet described the plan: “This is the moment to reimagine and rebuild a new economy. The American Jobs Plan is an investment in America that will create millions of good jobs, rebuild our country’s infrastructure, and position the United States to out-compete China.” The fact sheet further described the U.S. as ranking 13th in the world in infrastructure, with a vulnerable electrical grid. It expands the concept of infrastructure from physical assets like roads and bridges, to human infrastructure investments like caregiving and training.[12]
The Committee for a Responsible Federal Budget (CRFB) summarized the investments as follows ($ in billions):
- Climate $782
- Transportation $447
- Health & Childcare $443
- Housing & Buildings $258
- Jobs & economic development $196
- Research & Development $159
- Manufacturing $154
- Clean water $111
- Broadband $100
CRFB also summarized the revenue elements over 15 years:
- Increase corporate tax rate from 21% to 28%, generating $1,300 billion in revenue. The rate had been lowered from 35% in 2017 to 21% in 2018 by the Tax Cuts and Jobs Act.
- Implement a global minimum tax, raising $750 billion.
- Several other elements to address corporate tax loopholes and shelters, raising $680 billion.[13]
President Joe Biden defended his $2.65 trillion dollar infrastructure plan during a speech after Republican and some Democratic pushback on the proposal, in the video published on April 7, 2021, “Biden tries to sell $2 trillion infrastructure plan“, below:
Biden’s plan will be the largest job investment since WWII, to grow our economy and make us more competitive around the world and promote national security interests.
Biden’s American Jobs Plan, $2 Trillion Proposal, below:
- Upgrade transportation, utilities, broadband, housing
- Expand home health care for the elderly, people with disabilities
- Investment in chip manufacturing
President Biden just unveiled his $2.65 trillion infrastructure plan. The plan aims to revamp U.S. transportation infrastructure, water systems, and manufacturing, in the video published on March 31, 2021, “President Joe Biden unveiled his $2 trillion infrastructure plan – What’s in the proposal“, below:
Amazon CEO Jeff Bezos on Tuesday voiced support for raising the corporate tax rate but stopped short of saying he supports the president’s plan for the increase. The panel discusses Bezos’ remarks and how 55 big U.S. companies avoided federal taxes in 2020, in the video published on April 7, 2021, “Amazon CEO Supports Higher Corporate Taxes To Pay For Infrastructure Plan | Morning Joe | MSNBC“, below:
Amazon founder & CEO Jeff Bezos supports higher corporate taxes, and said “We recognize this investment will require concessions from all sides – both on the specifics of what’s included as well as how it gets paid for (We’re supportive of a rise in the corporate tax rate).We look forward to Congress and the Administration coming together to find the right, balanced solution that maintains or enhances U.S. competitiveness.”
Economist @Robert Reich, who served as Bill Clinton’s Labor Secretary, helps Mehdi understand why the new president seems to be taking more of a bottom-up approach to stimulating the economy, in the video published on April 5, 2021, “Biden’s Radical Break With Reaganomics | The Mehdi Hasan Show“, below:
Bidenomics expands the definition of infrastructure beyond roads and bridges to include human capital, representing government spending is for force of good: cash benefits, care jobs, and investment are the pillars of the new approach that’s going to replace Reaganomics. This would lead to more robust as well as more fair economy. Biden’s effort aims in bringing down the hostile temperature among different groups, stirred up by the previous administration.
President Joe Biden is battling with the GOP over his infrastructure plan (Biden’s infrastructure plan-$2.2 trillion while GOP infrastructure plan- $568 billion), and Caitlyn Jenner announced she is running for California governor as Gov. Newsom faces a likely recall election, in the video published on April 23, 2021, “Biden unveils new details on infrastructure plan“, below:
GOP Infrastructure Plan, below:
- would cost an estimated $568 billion
- focuses on traditional infrastructure
- excludes funding for electric vehicles, housing and home care
Congressional Republicans are set to unveil a counteroffer to President Biden’s $2.65 trillion infrastructure plan as he continues to push for its passage. House Ways and Means Ranking Member Rep. Kevin Brady (R-TX) discusses the new bill and tells Stephanie Ruhle there’s consensus that “the president needs to start over on this.” in the video published on April 22, 2021, “Rep. Brady Says Biden Needs To Start Over On Infrastructure Talks GOP Counteroffer | Stephanie Ruhle“, below:
Douglas Holtz-Eakin, American Action Forum; Gregory Daco, Oxford Economics; and CNBC’s Steve Liesman discuss whether President Biden’s infrastructure plan will actually create jobs, in the video published on April 22, 2021, “Will President Joe Biden’s infrastructure plan actually create jobs?” below:
Economist @Robert Reich, who served as Bill Clinton’s Labor Secretary, helps Mehdi understand why the new president seems to be taking more of a bottom-up approach to stimulating the economy, in the video published on April 5, 2021, “Biden’s Radical Break With Reaganomics | The Mehdi Hasan Show“, below:
In essence, during the first 100 days of the Biden Administration, Bidenomics is expanding the definition of infrastructure beyond roads and bridges to include human capital, representing government spending is for force of good: cash benefits, care jobs, and investment are the pillars of the new approach that’s going to replace Reaganomics. This would lead to more robust, as well as more fair economy. Biden’s effort aims in bringing down the hostile temperature among different groups, stirred up by the previous administration. Biden administration intends on paying for the American Jobs Plan by increasing the corporate tax from 21% to 28%. This corporate tax hike is not welcomed by the Republicans. Republicans, on the other hand, prefer alternative ideas for funding infrastructure package by higher gasoline levy or more borrowing. But according to data generated by Morning Consult/Politico of March 16-25, more than half of the Americans do prefer corporate tax hike as a way to support infrastructure.
Gathered, written, and posted by Windermere Sun-Susan Sun Nunamaker More about the community at www.WindermereSun.com
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