$2.25 Trillion Infrastructure + Clean Energy Plan Released

Since being elected, there’s been speculation about President Biden’s plan for infrastructure, with numbers as high as $4 trillion being floated

The next major piece of legislation from the White House, that they’re calling the American Jobs Plan, aims to reinvest into the country’s roads, bridges, ports and pipes, as well as the next generation of green energy.

Allegedly this American Jobs Plan is only one half of the full rollout, focusing on physical infrastructure. The second half, called the American Families Plan, will focus on things like child tax credits and home health care.

“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. In fact, it’s the largest American jobs investment since World War 2.”

A run-down, straight from the horses mouth:

• $620 billion to modernize 25,000 miles of roads, ports, and bridges
• $400 billion for housing for the elderly and disabled
• $350 billion stimulus to revive American manufacturing
• $200 billion to upgrade public housing and low-income homes
• $111 billion to replace 100% of lead pipes in the country, of which there are over 10 million
• $100 billion to retrofit schools
• $100 billion to give all Americans access to high-speed internet by the end of the decade

And here are some objectives:

• Replace 10 most economically important bridges
• Repair 10,000 bridges
• Rebates for families to afford clean energy vehicles
• Build 500,000 charging stations (!) by 2030
• Transition government vehicles to green energy
• Enforce Buy American policy, invest in US companies in battery technology and semiconductor manufacturing
• Create a modernized, clean power grid. President Biden has promised a carbon-free power sector by 2035
• Build, retrofit, renovate as many as 2 million homes
• Create 18 million jobs over 4 years

The big question is how this is going to be funded.

I mentioned in the American Rescue Plan write up that some economists do not recommend raising taxes on corporations, believing it could hurt the economic recovery.

But it turns out that’s exactly what they’re going to do with this one. The plan is:

• Repeal the 2017 tax cut
• Increase the corporate tax rate from 21% to 28%
• 15% minimum tax on corporate income
• Impose penalties on companies moving jobs to China
• Penalties on moving money offshore
• End federal tax breaks for fossil fuel companies

And that should generate enough revenue to pay for all of this over the next 15 years.

The President also reiterated that people making less than $400,000 would not see a tax increase at all.

There is some backlash to this however. Because this is a 10 year spending project that will take 15 years to pay off, some economics people are arguing that this could add up to a trillion dollars to the country’s debt.

It doesn’t make a difference to people like you or me (or most people), but the tax proposal appears to have already struck a chord with some people 👀

And it’s not just conservatives either. The proposal is already drawing criticism from the left for not going far enough

So here we are. An ambitious plan. An astronomical price tag. A tidal wave of opposition from Republicans. A growing list of demands from Progressives…

I’m noticing a pattern here. This is something we should start getting used to.

He was just talking s*** about McConnel

Ohhh okay lol

So now that we’re moving on from the first bill, here’s a definitive list of everything that was in the American Rescue Plan

Check out the last point btw 👀 looks like the foundation for cancelling some student debt

A good foundation to fight climate change is realistically the most important thing Biden can do and needs to do

do yall agree with Conservative points that this is less focused on infrastructure vs green energy?

I care about both, but either way works for my taste

another stimulus check?

Also i hope taxes dont go up lmao

another state legalizing mary

The corporate tax hike is nothing. They need to f***ing work on funding and giving more provisions to the IRS to allow them to investigate and audit the big individuals and organizations who are abusing tax general avoidance, inversions, and shelters. But they won't, because those are the people lobbying and lining their pockets.

This is wild.

You can’t freely speak on s*** about the government without penalties? This seems rather...

Don't tread on me and all that

conservatives wouldn’t focus on either

“cancel culture is destroying america”

Over the next decade
Biden’s jobs plan: $2.3 trillion
Military spending: $8.3 trillion

vote blue no matter who

It's pretty early to draw conclusions like that off a single quarter of data, but I'd also point out that, yknow, a bunch of people across the country conspired to overthrow the government

And why is more police funding necessary because of that

Also there’s a lot more going on in this quarters due to vaccinations going up lol but they’ll just ignore that too

Yikes

Biden didn’t campaign on defunding the police...

Isn’t this the same judge who voted in favor of Citizens United?
What a quack, who appointed him?