Biden advisors readying multi-part $3 trillion infrastructure package

Looks like it will be a two-part package

Looks like it will be a two-part package
Biden’s advisers are expected to present a proposal to the president this week that recommends carving his economic agenda into separate legislative pieces, according to the New York Times.

The first part that’s detailed includes nearly $1 trillion in spending on roads, bridges, rail lines, ports, electric vehicle charging stations and improvements to the electric grid and other parts of the power sector along with 5G technology and some green initiatives.

Biden’s team likely sees this part of the package as something amenable to Republicans or at least worth discussion, but how Republicans respond may come down to how it’s paid for.

The second part will focus on “students, workers and people left on the sidelines of the job market” or what some Democrats call “human infrastructure.” It would increase spending on education including free community college, national paid leave for new mothers and efforts to reduce child care costs.

One way to pay for it would be to increase the top marginal rate to 39.6% from 37.0%.

Invest in yourself. See our forex education hub. Source

Leave a Reply

Your email address will not be published. Required fields are marked *