Yesterday, President Joe Biden announced The American Jobs Plan. It’s a $2.3 trillion program aimed to rebuild America’s crumbling infrastructure. This includes repairing 20,000 miles of roads and improved internet access. The plan also vows to get access to clean water and invest funds in elderly care.
The American Jobs Plan
Speaking at Pittsburgh, Biden unveiled details of his newest plan yesterday. It entails another $2.3 trillion budget from an already-indebted government. Among its programs are $155 billion to repair roads and bridges and $80 billion to fix Amtrak.
The American Jobs Plan also earmarks $40 billion to improve public housing. It will also use $111 billion to rehabilitate and replace the country’s lead water pipes. Plus, Biden wants $42 billion for ports and airports and $40 billion to improve public housing. Then, there’s $100 billion for repairing public school buildings. In addition, the President wants to allot $180 billion for research and development.
But Wait, There’s More!
Biden said the American Jobs Plan aims to fix ten of the most economically significant bridges in need of reconstruction. It will also repair the worst 10,000 smaller bridges in the country. It will also undertake repairs for 20,000 miles of road and install a network of electric vehicle charging stations throughout the US. He argued that without this plan, the middle class will weaken. Eventually, this will leave the US at a disadvantage.
Even as he sang praises for his new trillion-dollar plan, Biden also looks forward to his second package following the American Jobs Plan. The second version will focus on improving the social safety nets around Americans. White House principal deputy press secretary Karine Jean-Pierre said that this second package shares the same priority as the earlier program. “There are multiple pillars, and one is not more important than the other,” she said.
How Biden Plans to Pay For the American Jobs Plan
Among the effects of the American Jobs Plan including creating millions of jobs as well as help fight climate change. Spread out over eight years, he suggested increasing corporate taxes from 21% to 28% can generate the budget within 15 years. “I am proposing a plan for the nation that rewards work, not just rewards wealth. 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,” he said. Congress must act now because, in 50 years, Americans will say that “This was the moment that America won the future,'” according to Biden.
History lessons aside, Republicans are not in a spending mood for more of Biden’s pet projects. Capitol Hill already made its feelings known after passing a $1.9 trillion COVID-19 relief bill along party lines. Spending on infrastructure usually gets bipartisan support, but this time, the GOP might resist going on board over the scope and the price tag. However, Biden mentioned he is open to other methods of payment as long as Americans earning below $400,000 a year won’t pay new taxes.
GOP Unlikely To Support “Anything”
Senate Minority Leader Mitch McConnell (R-KY) reacted Wednesday to Biden’s American Jobs Plan. “If it’s going to have massive tax increases and trillions more added to the national debt,” McConnell said he’s unlikely to support the bill. In addition, “We’re hearing the next few months might bring a so-called ‘infrastructure’ proposal that may actually be a Trojan horse for massive tax hikes and other job-killing left-wing policies,” he remarked from the Senate floor last week.
Meanwhile, other Republicans contend that Biden doesn’t want to just fix roads. Instead, the President wants to upend American life. GOP officials say that the American Jobs Plan should limit itself to transportation, broadband internet, and other basics, without ramming in green energy initiatives. Biden doesn’t want to just fix roads, Republicans warn, he wants to upend American life.
Democrats Also Don’t Like The Plan
Apart from Republicans, Biden will need to hash out matters over with members of his own Democratic Party. Moderate Democrats from high-cost, high-end tax states like New York and New Jersey want the removal of the caps on deductibles for both state and local taxes (SALT). “We say ‘No SALT, no deal,'” Democrat Representatives Bill Pascrell (NJ), Josh Gottheimer (NJ), and Tom Suozzi (NY) said in a statement.
If the bill sheds off its green initiatives, while unlikely, this risks losing the support of progressive Democrats. In fact, Representative Alexandria Ocasio-Cortez (NY) made it known she prefers a way bigger budget. “We must stop spending billions of taxpayer money on infrastructure systems only for them to fail at the most crucial moment,” she said in a statement.
Watch the Reuter’s video where Presiden Joe Biden unveils $2 trillion American Jobs Plan:
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